HONG KONG, July 20 (Reuters) - China's Citic Group has not decided whether to launch a counterbid for Australia's Macarthur Coal , which is subject to a $5 billion takeover offer, a top Citic official said on Wednesday.
"We are weighing all options," Tinghu Guo, managing director of Citic Australia, told Reuters, when asked if Citic was considering a counterbid for Macarthur. China's Citic Group owns 24 percent stake of Macarthur. Citic Australia is a unit of state-owned Citic Group.
"We are still looking at the situation. There is no decision yet," Guo added.
The MCC stake in held jointly by Citic Group and its Hong Kong-listed unit Citic Resources .
Last week, Peabody Energy and ArcelorMittal made a joint bid for MCC valuing the company at $5 billion.
(By Reuters)
"We are weighing all options," Tinghu Guo, managing director of Citic Australia, told Reuters, when asked if Citic was considering a counterbid for Macarthur. China's Citic Group owns 24 percent stake of Macarthur. Citic Australia is a unit of state-owned Citic Group.
"We are still looking at the situation. There is no decision yet," Guo added.
The MCC stake in held jointly by Citic Group and its Hong Kong-listed unit Citic Resources .
Last week, Peabody Energy and ArcelorMittal made a joint bid for MCC valuing the company at $5 billion.
(By Reuters)
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