Business

Sun May 04 03:01:18 PDT 2008

SYDNEY, May 2 (Reuters) – Australia’s Murchison Metals Ltd <MMX.AX> said on Friday it had not been contacted by and was not in discussions with China’s Sinosteel on a possible takeover bid.

Murchison was responding to a query from the stock exchange on moves in its share price.

Shares in the miner have surged about 20 percent after it said on Tuesday that Sinosteel had acquired 2.4 percent of its stock.

(Reporting by James Thornhill)

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