Macarthur Coal says still talking with third party

SYDNEY, May 5 (Reuters) - Australia's Macarthur Coal Ltd (MCC.AX: Quote, Profile, Research, Stock Buzz) said on Monday it was still in talks with an unnamed third party, but had received no formal proposal.

Responding to continuing market speculation, Macarthur said it was likely discussions with the third party would take a considerable time to complete.

Macarthur, which is 20 percent owned by the Chinese government, said last month it had been approached by a potential buyer, sending its shares sharply higher. (Reporting by James Thornhill)