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Business & Finance

Reuters exclusively reports S.Korea’s POSCO weighs how to exit Myanmar

Reuters reported exclusively that giant South Korea steelmaker POSCO has begun reviewing how it might end a joint venture with a firm controlled by the military in Myanmar in the wake of the coup there in February. As Myanmar’s army rulers continue a deadly crackdown on protest, with hundreds killed, sources told Reuters that the Korean parent’s POSCO C&C arm is looking into either selling its 70% stake in the venture with Myanmar Economic Holdings Ltd (MEHL), or buying out its partner’s stake. It wasn’t immediately clear how much the 30% holding might be worth. 

Article Tags
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: Equities
Regions: Asia
Countries: South Korea
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story
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