India's Tata Steel says no decision yet on Riversdale

Wed Feb 23, 2011 2:16pm GMT

MUMBAI Feb 23 (Reuters) - India's Tata Steel (TISC.BO: Quote), the world's No. 7 steelmaker, said on Wednesday it has not yet made a decision regarding its stake in Africa-focused coal miner Riversdale (RIV.AX: Quote).

Tata Steel holds a 24 percent stake in Riversdale, which has received a $3.9 billion bid from Rio Tinto (RIO.AX: Quote).

The company has till March 4 to decide on whether it will hold on to the stake or sell to Rio, but earlier this month its Managing Director Hemant Nerurkar told Reuters Tata Steel was primarily interested in securing coal supplies from Riversdale, and talking to Rio about various options.

(Reporting by Prashant Mehra; Editing by Aradhana Aravindan,sourced:Thomson Reuters)