Mechel (MTL) has backed off from selling up to 25% of its mining division because of market...

|About: Mechel OAO (MTL)|By:, SA News Editor

Mechel (MTL) has backed off from selling up to 25% of its mining division because of market conditions, Reuters reports, awaiting an improvement in coal prices. Potential suitors, including some large Southeast Asian steel producers, also reportedly had requested more details on the assets before progressing. MTL, seeking to cut a $9B debt pile, had hoped a sale would bring as much as $1.25B.