Posco (PKX) says it has agreed to acquire a stake in ArcelorMittal Mines Canada, although the...

|About: ArcelorMittal (MT)|By:, SA News Editor

Posco (PKX) says it has agreed to acquire a stake in ArcelorMittal Mines Canada, although the South Korean company hasn't decided how big a holding it will buy or how much it will spend. Different reports said that Posco will purchase 15% for $1.1B, or that the firm will acquire the holding as part of a group that includes China Steel. In October, ArcelorMittal (MT) was reported to be considering selling 30% of the Canadian iron ore unit. (Previously)