WRAPUP 4-China exec probed for leaking price strategy to Rio

Fri Jul 10, 2009 10:24am BST
 
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(Ckick on [nSP473911] for related stories)

* Rio Tinto detainees suspected of bribery -Chinese paper

* Shougang executive leaked "bottom line" to Rio - source

* Rio "surprised", says unaware of evidence for allegations

* Australia PM Rudd pressured to lever China

By Rob Taylor and Lucy Hornby

CANBERRA/BEIJING, July 10 (Reuters) - A Chinese steel executive detained along with four Rio Tinto employees is under investigation for leaking China's "bottom line" in iron ore price negotiations, a source with knowledge of the probe said on Friday.

Tan Yixin, the head of iron ore imports for state-owned steelmaker Shougang, has been taken into custody on suspicion of "revealing China's negotiating strategy" to Anglo-Australian miner Rio Tinto Ltd (RIO.AX) (RIO.L), the source told Reuters, requesting anonymity.   Continued...

 

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