Mining: Brazil's CVRD says no plans to help BHP Billiton acquire Rio Tinto

Brazilian mining giant Compania Vale do Rio Doce (CVRD) has 'no intention of making a move' to help BHP Billiton PLC in its efforts to acquire Rio Tinto, or to act as a white knight for the latter, said CVRD chief executive Roger Agnelli.
Rio Tinto has rejected BHP Billiton's unsolicited US$350 billions merger proposal and earlier today said it has not been engaged in discussions with anyone at this time.
'There is no intention on the part of CVRD to make a move,' Agnelli said. 'It's an Australian party to which we haven't been invited.'
Agnelli said CVRD did not want to get involved in the project, adding that it remains focused on organic growth. He did not, however, rule out buying up assets should a merger of the two go ahead.
Fabio Barbosa, finance director of CVRD, also said that while the group is looking to increase recognition of the group amongst European investors, it is not considering a listing in Paris.
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