Sunday, June 08, 2008

Sinosteel adds stake

Sinosteel Corp, China's second-biggest iron ore trader, increased its stake in Australian iron ore producer Midwest Corp to 40.09 percent. Sinosteel now owns 80.5 million shares in Midwest, it said yesterday said in a statement sent to the Australian stock exchange. Sinosteel has offered A$6.38 a share in cash for Perth-based Midwest.

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