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SEOUL, April 16 (Reuters) - POSCO Coated & Color Steel Co
Ltd (POSCO C&C) said on Friday it will end its joint
venture with Myanmar Economic Holdings Public Co Ltd (MEHL), a
firm controlled by the military in Myanmar which took control of
the country in February.
The South Korean firm did not detail how it will end the
venture, saying in a statement that it will continue to disclose
related issues. A POSCO C&C spokesman told Reuters that, though
the firm is ending the venture relationship, it is not pulling
out Myanmar. We hope that our steel business will continue to contribute
(Bloomberg) Close allies of Myanmar’s detained civilian leader Aung San Suu Kyi who were ousted in a military coup announced on Friday they have joined with ethnic groups to form a new unity government, escalating the chances of a prolonged conflict with the junta.