Baosteel source says unaware of move on BHP stake

Wed Apr 9, 2008 1:22am EDT
 
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SHANGHAI, April 9 (Reuters) - A source close to top management at China's Baosteel Group said on Wednesday that he was not aware of any move to buy a stake in global miner BHP Billiton (BHP.AX)(BLT.L).

"If Baosteel has any plan (to do this) then I should be informed, but I haven't been," the source told Reuters.

BHP shares were up 4 percent in afternoon trade in Sydney. On Tuesday, its London-listed shares jumped 4.6 percent on market talk that Baosteel Group, China's biggest steelmaker, may buy a BHP stake. (Reporting by Alfred Cang; Editing by Edmund Klamann)

 
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