off-the-wire

Teck says its plan to split "most strategic" option for shareholders

Kitco Media
By Reuters
Published:
Updated:
Reuters

SANTIAGO, April 18 (Reuters) - Teck Resources Ltd's plan to split its coal and base metals businesses is the "most strategic" option for the miner's shareholders, an executive said on Tuesday. Teck's shareholders plan to vote on the split later this month, even as Glencore Plc is pursuing a $22.5 billion bid of its own to buy Teck.

"We're excited about the decision that we put to our shareholders," Teck Chief Operating Officer Harry Conger said at the World Copper Conference in Santiago.

(Reporting by Ernest Scheyder)

+1-713-210-8512; Reuters Messaging: ernest.scheyder.thomsonreuters.com@reuters.net))

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