Salzgitter Denies Plans Bond Issue To Fund Aurubis Stake Hike
September 23 2009 - 4:15AM
Dow Jones News
German steelmaker Salzgitter AG (SZG.XE) Wednesday denied it
plans to issue a bond to finance increasing its stake in copper
company Aurubis AG (NDA.XE).
"Salzgitter has no plans to issue a bond," a spokesman for the
company said in response to market speculation earlier
Wednesday.
He added that Salzgitter doesn't plan to increase its stake in
Aurubis to over 29.9%, short of the 30% threshold that requires a
takeover offer under German financial markets laws.
Salzgitter currently owns around 23% in Aurubis.
Company Web site: www.salzgitter-ag.de
-By Jan Hromadko, Dow Jones Newswires; +49 69 29 725 503;
jan.hromadko@dowjones.com