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As dual listings fall out of favour, Rio Tinto set to hold the line

Global miner Rio Tinto Ltd has no plans to follow in the footsteps of peers BHP and Shell to collapse its dual listing, people familiar with its thinking say, seeing it as a needless expense that would erode advantages for shareholders in London and Sydney. Executives at Rio routinely review the dual structure and have for years resisted any change, a direction unlikely to shift under the helm of new chief executive Jakob Stausholm, two sources familiar with the company told Reuters. Just last month, Stausholm defended the dual listing as an effective one-management, one-board structure set up 26 years ago to satisfy both the UK and Australian governments that he thought management should “honour.”

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