Activist investor asks Rio Tinto to give up its primary London listing, FT reports

A UK-based activist investor has called for Rio Tinto RIO, RIO to abandon its primary London listing and unify its corporate structure in Australia instead, the Financial Times reported on Thursday.

Palliser Capital, which has taken up a stake in Rio Tinto, said that the metals and mining behemoth's dual corporate structure is a "barrier to its strategic plans, which made it difficult to do major acquisitions," the FT reported.

Palliser argued that the structure made it difficult for Rio to pursue all-stock takeovers because of the company’s valuation gap and complicated corporate governance, the report said.

Rio Tinto did not immediately reply to Reuters' request for comment.