OSLO (Reuters) – Norway’s sovereign wealth fund, one of the world’s largest investors, said on Friday it will support a plan by Canadian miner Teck Resources to spin off its metallurgical coal business and focus on copper and zinc.
By voting in favour of the Teck board’s proposed spin-off at a meeting of shareholders on April 26, the Norwegian fund implicitly rejected Swiss miner Glencore’s attempted takeover of the Canadian group.
(Reporting by Terje Solsvik, editing by Essi Lehto)
