Friday, December 05, 2008

Yanzhou Coal says not in talks to buy Felix yet

China's third largest coal producer Yanzhou Coal Mining has not held formal talks with Australian coal producer Felix Resources yet, Reuters reported Friday, citing a company official.

Yanzhou Coal is just reaching a "preliminary understanding," the official was cited as said.

Shares in Felix Resources jumped more than 80 percent earlier in the day after the Australian Financial Review reported that Yanzhou Coal was in talks to buy the Australian firm.

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