China's MMG confirms in talks to buy Glencore's Peru copper mine
MELBOURNE, March 19 (Reuters) - China's MMG Ltd confirmed on Wednesday it was in talks with Glencore Xstrata to buy the Las Bambas copper mine in Peru, an acquisition expected to cost more than $5 billion, but said there was no guarantee a deal would be agreed.
MMG, the Australia-based offshore arm of Chinese state-owned Minmetals, said it was bidding alongside state-owned giant CITIC Group and Hong Kong-registered Guoxin International Investment Corp.
"No binding agreement has been reached in connection with the acquisition as of the date of this announcement," MMG said in a statement on Wednesday to the Hong Kong stock exchange.
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