POSCO CEO says considering stake sale, "all possibilities" for Daewoo International
SEOUL May 19 (Reuters) - South Korean steelmaker POSCO said on Monday it was looking at "all possibilities", including a stake sale, for its trading and resources arm Daewoo International Corp as part of its restructuring efforts.
"We are looking at various possibilities regarding Daewoo International. Nothing has been decided yet," POSCO Chairman and Chief Executive Kwon Oh-joon told reporters.
POSCO, the world's fifth-biggest steelmaker, holds a 60 percent stake in Daewoo, which it bought in 2010 for 3.37 trillion won ($3.26 billion). (Reporting by Hyunjoo Jin and Sohee Kim; Editing by Miral Fahmy)
- U.S. air strikes on Syria would face formidable obstacles
- FBI, Secret Service investigate reports of cyber attacks on U.S. banks
- Breakthrough hopes dented as Ukraine accuses Russia of new incursion |
- Gaza truce holding but Israel's Netanyahu under fire at home |
- U.S. National Security Council aware of reports that second American killed in Syria