Jun 6, 2011

Inco to change name into Vale

Nickel miner PT International Nickel Indonesia Tbk (INCO) has changed its name into PT Vale Indonesia Tbk after its parent was acquired by Vale SA in 2007.
"Yes, we will change name. But, firstly, we have to seek approval from our shareholders," said President Director Tony Wenas as quoted by Kontan daily today.
Vale Canada Limited controls 58.73% stake in INCO and public holders own 20.49%.

Disclosure: No position at the stock mentioned above.

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