POSCO Says Not Considering Buying Kyobo Securities-Shanghai Metals Market

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POSCO Says Not Considering Buying Kyobo Securities

Industry News 09:13:59AM Feb 10, 2012 Source:SMM

SEOUL Feb 8 (Reuters) - South Korean steelmaker POSCO on Wednesday denied market rumors that it may purchase brokerage Kyobo Securities.

"We are not considering the buy. The market rumors are totally groundless and we will report so to the stock exchange today," a POSCO spokeswoman said.

The South Korean bourse operator has asked the two companies to clarify the market rumors by 0900 GMT Wednesday.

A spokesman for Kyobo Securities also denied the market rumors.

Shares in Kyobo Securities jumped by the daily limit of 15 percent on Wednesday on market talk of POSCO's possible acquisition of the firm.
 

Key Words:  POSCO  steel 

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POSCO Says Not Considering Buying Kyobo Securities

Industry News 09:13:59AM Feb 10, 2012 Source:SMM

SEOUL Feb 8 (Reuters) - South Korean steelmaker POSCO on Wednesday denied market rumors that it may purchase brokerage Kyobo Securities.

"We are not considering the buy. The market rumors are totally groundless and we will report so to the stock exchange today," a POSCO spokeswoman said.

The South Korean bourse operator has asked the two companies to clarify the market rumors by 0900 GMT Wednesday.

A spokesman for Kyobo Securities also denied the market rumors.

Shares in Kyobo Securities jumped by the daily limit of 15 percent on Wednesday on market talk of POSCO's possible acquisition of the firm.
 

Key Words:  POSCO  steel