Tata Steel Ltd. (500470.BY) Friday said it is studying Rio Tinto Ltd.'s (RIO.AU) A$3.9 billion takeover offer for Riversdale Mining Ltd. (RIV.AU), in which the Indian company owns a 24% stake.

Tata Steel said in a regulatory filing that it will "evaluate the takeover bid in the context of other alternatives available to Tata Steel."

International Coal Ventures Ltd., a joint venture between five state-run Indian companies--Steel Authority of India Ltd. (500113.BY), NTPC Ltd. (532555.BY), NMDC Ltd. (526371.BY), Rashtriya Ispat Nigam Ltd. and Coal India (533278.BY)--Thursday named Citibank as its merchant banker to advise on a possible counter-bid for Riversdale Mining.

-By Ashutosh Joshi, Dow Jones Newswires; +91 22 6145 6120; ashutosh.joshi@dowjones.com
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