POSCO agrees to buy 10 pct stake in Macarthur Coal

SEOUL, June 30 (Reuters) - South Korea's POSCO (005490.KS) said on Monday it had agreed to buy a 10 percent stake in coal mining firm Macarthur (MCC.AX) from the Australian group's shareholder Ken Talbot at A$20 a share.

POSCO said the deal was conditional upon an approval from its board meeting scheduled next month.

Macarthur shares, which closed at A$18 on Friday, were trading 7.8 percent higher at A$19.40 at 0129 GMT. (Reporting by Miyoung Kim; Editing by Keiron Henderson)