LONDON-BHP Billiton (BHP, BHP.AU) said Tuesday it was too early
to say whether the Anglo-Australian mining giant would take a stake
in the new company set to be created from a planned demerger of its
less profitable assets.
"There will be a lot of discussions," said Chief Executive
Andrew Mackenzie. "We need to talk to regulators first."
BHP Billiton announced its decision to unwind one of the biggest
mergers in mining history earlier on Tuesday, unveiling plans to
spin off most of the mines BHP acquired when it fused with Billiton
in 2001 into a new entity, provisionally nicknamed "NewCo."
Speaking in a conference call with analysts, Mr. Mackenzie said
that Tuesday's decision was only the first--albeit the most
significant-- that his management team will have to take as they
prepare a more detailed plan for the demerger.
"We will have to wait until we have a more detailed plan and
strategy for NewCo, which we will have in coming months," said Mr.
Mackenzie.
Write to Alexis Flynn at alexis.flynn@wsj.com
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