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Meouco63

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Meouco63

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Sunday, 06/29/2008 10:01:56 PM

Sunday, June 29, 2008 10:01:56 PM

Post# of 22460
WWW,Coal Fight is now on!!!!
Let the Games begin,,,

SEOUL, June 30 (Reuters) - South Korea's POSCO (005490.KS: Quote, Profile, Research) said on Monday it had agreed to buy a 10 percent stake in coal mining firm Macarthur (MCC.AX: Quote, Profile, Research) from the Australian group's shareholder Ken Talbot at A$20 a share.

POSCO said the deal was conditional upon an approval from its board meeting scheduled next month.

Macarthur shares, which closed at A$18 on Friday, were trading 7.8 percent higher at A$19.40 at 0129 GMT. (Reporting by Miyoung Kim; Editing by Keiron Henderson)

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[chart]www.fotothing.com/p

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