Sumitomo is a shareholder in Teck, which operates under a
dual-class structure and needs approval from two-thirds of
shareholders on both sides for the restructuring.
Canada's Keevil family owns the majority of 'A' class of
shares, which have more voting power than the numerous 'B' class
shares held by institutions.
(Reporting by Bharat Govind Gautam in Bengaluru; Editing by
Dhanya Ann Thoppil)
April 20 (Reuters) - Sumitomo Metal Mining on
Thursday said it continues to support Teck Resources' plan to create two separate companies.
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.