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WaveStone Capital Sounds Alarm: Risks of Palliser Capital’s London-Listing Vote on Rio Tinto!

Investment Firm Challenges Proposal to Abandon London​ Listing

A prominent investment ‍firm with‌ significant stakes in Rio Tinto has criticized a recent proposal⁣ by activist investors urging the iron ore giant to relinquish its primary listing on ⁢the London Stock Exchange. This ⁣fund manager argues that such a move⁤ would primarily benefit bankers and​ consultants, rather‍ than enhancing value for Australian shareholders.

WaveStone⁣ Capital,‍ managing nearly⁣ $10 billion in assets and holding ​shares‌ listed on the Australian market from Rio Tinto, strongly opposes recommendations put forth by British hedge fund Palliser ‌Capital. The‍ firm deems this ⁢push ​as “extremely misguided.”

In​ light of ‍current⁤ market ​dynamics and shareholder interests, WaveStone emphasizes that maintaining a dual listing strategy is vital for preserving investor confidence and ​maximizing long-term ​gains within Australia’s resource sector.

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