Reuters reported that POSCO is in the final stages of talks to buy Thainox Stainless from its top shareholder.

The report cited unnamed industry sources as saying that POSCO would buy 85% of the largest stainless steel producer in Thailand for KRW 400 to KRW 500 billion on top of its current 15% ownership.

It may be noted that in January 2009, Thainox Stainless PCL declined comment on a newspaper report that it was in talks to be acquired by POSCO.

(Sourced from www.reuters.com)