UK Coal says no plans to enter into bid talks

LONDON - UK Coal Plc, Britain’s biggest coal miner, said on Monday it did not expect to have any talks with a specialist investment fund reported to be interested in bidding for the firm.

By (Reuters)

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Published: Mon 24 Dec 2007, 4:46 PM

Last updated: Sat 4 Apr 2015, 9:43 PM

Industry sources told Reuters on Sunday that Austria’s Meinl International Power, an investment fund launched earlier this year by Meinl Bank to invest in the energy sector, had told UK Coal it was interested in buying its mining assets.

‘UK Coal has noted the press speculation relating to a reported approach for its mining and power generation interests from a specialist investment fund,’ the company said in a statement.

‘UK Coal confirms that whilst, as is normal, from time to time it receives preliminary expressions of interest from third parties to discuss a variety of potential transactions, no discussions are anticipated in relation to this initiative.’

The sources also said on Sunday that UK Coal was unlikely to enter talks at this time.

At 1010 GMT, UK Coal shares were up 18.7 percent at 454 pence, off an earlier high of 470 pence.

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