POSCO says no current plans to sell Macarthur stake

SEOUL, April 13 (BestGrowthStock) – South Korea’s POSCO, one of the
top three shareholders of Australian miner Macarthur Coal, said
it was not currently planning to sell its 8.3 percent stake in
the miner and wanted to keep it as a stable supplier.

“Ninety-nine percent of our investment purpose in Macarthur
is to secure a stable supplier,” Kwon Young-tae, POSCO’s
(005490.KS: ) senior vice president, told Reuters after a
conference with analysts.

He added that POSCO would continue to review the proposed
merger between Macarthur (MCC.AX: ) and Gloucester (GCL.AX: ), saying
it had made no decision yet on whether to support the deal.

Investment Advice

(Reporting by Kim Yeon-hee; Editing by Jonathan Hopfner)

POSCO says no current plans to sell Macarthur stake