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Baoshan Iron & Steel Co Ltd In Talks With Mechel OAO For $1.25 Billion Mining Unit Stake-Reuters

Wednesday, 10 Apr 2013 01:31am EDT 

Reuters reported that Baoshan Iron & Steel Co Ltd is in talks with Mechel OAO to buy a 25% stake valued at up to $1.25 billion in the latter's mining division, Vedomosti newspaper reported. A spokesman for Mechel said the company was in talks with a number of potential investors, but declined to comment on the report about talks with Baosteel, China's biggest steelmaker by market value. Baosteel could not immediately be reached for comment.