CITIC Resources says may sell Macarthur Coal stake
CITIC Resources Holdings Ltd has not decided what to do with its 17.66 percent stake in Australia’s Macarthur Coal and could equally sell or hold the stake, Chief Executive Sun Xinguo said on Monday.
Macarthur’s top shareholder, Ken Talbot, has been selling down his stake of around 24 percent, opening up the possibility of a takeover bid by CITIC Resources or ArcelorMittal , which bought almost 15 percent in the firm last month for $604 million.
