Rio Tinto mulls GBP 6 bln rights issue

Rio Tinto PLC is mulling a GBP6 billion rights issue, the Financial Mail on Sunday reported, citing a senior banker familiar with the situation.

According to the newspaper, the banker said Rio Tinto is drawing up contingency plans for raising capital so it can take part in future industry consolidation.

A spokesman said the report was "pure speculation" and that the group last week had said it didn't see the need for a rights issue.