Alcoa eyes M&As as prices plummet

Keeping cool nerves while facing multiple challenges, the CEO of aluminum giant Alcoa remains upbeat about the prospect of joint overseas acquisitions with Chinese partners even as he keeps all options open.

Although a highly publicized attempted stake purchase of Rio Tinto by State-owned Chinalco was in vain, Alcoa is optimistic about other opportunities for global mergers and acquisitions (M&As) with Chinese partners, Alcoa CEO Klaus Kleinfeld told China Daily yesterday.

"I am not happy with the result (of negotiations with Rio Tinto), but it was a good start. We want to help Chinalco go abroad," Kleinfeld said on the sidelines of ongoing Summer Davos forum in Dalian.