Aluminum Corp of China (Chinalco) is among the clients of Lehman Brothers’ European unit that are seeking to regain assets frozen when the firm collapsed in September, the Wall Street Journal reported. The state-owned aluminum firm said it was in talks to free its 9% stake in mining firm Rio Tinto from Lehman. Chinalco has delayed a US$1.17 billion bond sale until the matter is resolved. Chinalco must wait until Lehman’s insolvency administrator, PricewaterhouseCoopers, has determined that its stake can be returned to it, based on the type of account it has filed. Chinalco said it expects to recoup the stake without a loss.
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