"However, Xstrata, the Anglo-Swiss miner that has held takeover talks with Vale, ticked up 12p to £35.12 on hopes that the Brazilian company was moving closer to making an offer. Vale is believed to have a $50bn (£25.2bn) financing package in place to fund any potential deal."
http://www.telegraph.co.uk/money/main.jhtml;?xml=/money/2008/01/29/cxmktrep129.xml