Poland's KGHM Hasn't Proposed Takeover - Metminco Director
16 3월 2012 - 4:43AM
Dow Jones News
South American copper and gold explorer Metminco Ltd (MMCLF)
said Thursday it hasn't been approached by Poland's KGHM Polska
Miedz SA (KGH.WA) with regard to a potential takeover proposal.
"As far as I'm aware we had no contact with them," said Tim
Read, a nonexecutive director of Metminco, on the sidelines of the
Jefferies copper conference here.
KGHM said earlier this month that it was looking at two
additional takeover targets after completing its $2.9 billion
purchase of Quadra FNX Mining Ltd. although it didn't disclose any
names.
KGHM's CEO Herbert Wirth said the Poland-based copper producer
and has made inquiries with banks for possible loan offers that
could be used to fund further takeovers. KGHM, which is largely
debt-free, funded its acquisition of Quadra with its large cashpile
stemming in part from the sale of telecommunication assets last
year.
Metminco has a portfolio of five copper and gold projects in
Peru and Chile and has share listings in London and Sydney. The
company's shares in Sydney have a market capitalization of $284
million.
-By Alex MacDonald, Dow Jones Newswires; +44 (0)20 7842 9328;
alex.macdonald@dowjones.com
--Marcin Sobczyk and Patryk Wasilewski in Warsaw contributed to
this story.
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