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Qatar Steel Says Not Seeking to Raise Holding in South Steel

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Nov. 28 (Bloomberg) -- Qatar Steel Co., a unit of Industries Qatar, said a report in the Al Sharq newspaper saying the company sought to raise its stake in Saudi Arabia’s South Steel Co. was “incorrect” and “not initiated by Qatar Steel.”

Qatar Steel owns 20 percent of South Steel, the company said in a statement posted on its website.

To contact the reporter on this story: Robert Tuttle in Doha at rtuttle@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net

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