China in auto power play
It might not shake up the industry just yet, but China's interest in Volvo and Saab is the start of something big in global autos, writes columnist Wei Gu. Commentary
UBS, Deutsche join advisory army on Rio, BHP deal
LONDON (Reuters) - Two more investment banks have joined the army of advisers lined up by the world's biggest mining group, BHP Billiton (BHP.AX), and its takeover target Rio Tinto (RIO.AX) this week, according to regulatory filings.
Deutsche Bank (DBKGn.DE) started to reveal daily dealings in BHP (BLT.L) and Rio (RIO.L) shares on Tuesday because it is advising Rio, and UBS (UBSN.VX) began to publish trading in the companies on the same day as an adviser to BHP.
Banks have rushed for a role in what would be the world's second-largest takeover to secure a top place on the advisory league tables.
Rio has rejected BHP's proposed all-share offer, worth $140 billion when first announced, as being too low.
BHP already has advisers Citigroup (C.N), Goldman Sachs (GS.N), Australian investment bank Gresham Partners and HSBC (HSBA.L)(0005.HK) as well as Merrill Lynch MER.N as corporate broker to the company.
Credit Suisse (CSGN.VX), JP Morgan (JPM.N), Macquarie MBL.AX, Morgan Stanley MWD.N and Rothschild ROT.UL are all advising Rio Tinto.
(Editing by Quentin Bryar)
