(From AFX UK (Focus))
BEIJING (XFN-ASIA) - Laigang Group, parent of Laiwu Steel Co Ltd (SHA 600102), said it is not aware of any rejection issued by regulators of Arcelor Mittal's latest proposal to take a 38 pct stake in Laiwu, contrary to reports.
"Talks with Arcelor are still in progress, and our high-level officials are still studying the most recent proposal. I know of no rejection by the regulator," said a spokesman for the group's capital operations department, who declined to give his name.
China Business, citing sources, reported that the National Development and Reform Commission (NDRC) has conditionally rejected the proposed stake …