Thainox Stainless Pcl said that its main shareholder was discussing the sale of a stake to South Korea's POSCO but made no comment on the price.

As per report, the Mahagitsiri group, which has a 51.7% stake in Thainox, wanted to sell its stake at THB 3 per share while POSCO had offered THB 2.

The company issued a statement in response to a stock exchange inquiry, saying that it was not responsible for the news report and simply noting that the terms and conditions of a stake sale were under negotiation.

POSCO already owns 15% of the Thai firm.

(Sourced from www.reuters.com)