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POSCO In Exclusive Talks For ArcelorMittal Canada Mine Stake-Reuters


Monday, 3 Dec 2012 06:38pm EST 

Reuters reported that POSCO has secured exclusive negotiating rights to acquire a stake in a Canadian iron ore mine operator controlled by ArcelorMittal. POSCO is seeking to form a consortium to buy the stake with South Korea's National Pension Service and other investors, the source said, but declined to elaborate on the size of the planned stake. The Korea Economic Daily reported on Tuesday that POSCO has been picked as the preferred bidder for a 15% stake in ArcelorMittal Mines Canada, a deal expected to be worth more than $1 billion. 

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