ENRC Drops Freezing Order On Magnitogorsk's Fortescue Stake
05 Dezember 2011 - 6:42AM
Dow Jones News
Kazakh-focused miner Eurasian Natural Resources Corp. PLC
(ENRC.LN) Monday dropped its attempt to freeze steelmaker
Magnitogorsk Iron & Steel Works' (MAGN.RS) stake in Fortescue
Metals Group Ltd. (FMG.AU), according to court documents.
The documents, released by Magnitogorsk's takeover target
Flinders Mines Ltd. (FMS.AU), showed ERNC moved to discontinue the
order granted Nov. 25 that froze a stake of just under 5% that the
Russian steelmaker owns in Fortescue, the world's fourth-largest
iron ore miner.
-By David Fickling, Dow Jones Newswires; +61 2 8272 4689;
david.fickling@dowjones.com
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