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Baosteel calls talk of BHP stake interest 'rumour'

(Agencies)
Updated: 2008-05-29 16:23

The chairman of Baosteel Group, China's top steelmaker, said on Thursday talk that his company wanted to buy an equity stake in BHP Billiton Ltd/Plc was a "market rumour".

Asked on Thursday about media reports that Baosteel was seeking to buy into BHP, Xu Lejiang told reporters: "That's a market rumour."

The Australian newspaper earlier this month reported that Chinese interests had asked a big Australian pension and investment fund to be a partner in a multibillion-dollar deal for 9 percent of BHP's shares, amid speculation that a Chinese firm was building a stake in the world's biggest mining company.