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Australia's Macarthur to update on Arcelor talks

Sun Jun 22, 2008 7:39pm EDT

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SYDNEY, June 23 (Reuters) - Shares in Australian miner Macarthur Coal Ltd (MCC.AX) were put on a trading halt on Monday pending an announcement from the company on the outcome of talks with steel-maker ArcelorMittal (ISPA.AS).

Arcelor, the world's top steelmaker, bought a 14.9 percent stake in Macarthur for $604 million in May and has been holding talks on an unspecified new transaction with the Australian firm. (Reporting by Mark Bendeich)



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