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35

Shenhua: No Way We Invest Anglo-American Plc

In response to increasing reports about Chinese firms exploring acquisitions of stakes in global mining firms a senior executive said Monday that Chinese coal mining giant Shenhua Energy has no plans to invest in Anglo American ALGJ.J or BHP Billiton

In response to increasing reports about Chinese firms exploring acquisitions of stakes in global mining firms a senior executive said Monday that Chinese coal mining giant Shenhua Energy has no plans to invest in Anglo American ALGJ.J or BHP Billiton.

Shenhua, a state-owned mining and energy company in China and the world's most valuable coal producer, is seeking a strategic tie-up with Anglo American Plc and could buy up to 10 percent of the firm, Hong Kong's South China Morning Post reported on Monday, citing unnamed sources.

The same paper has also previously said Shenhua was seeking a stake in Australia's Fortescue Metals Group.