It has been reported that the Russian steel producer Magnitogorsk Iron and Steel Works (MMK) has submitted a bid to acquire a controlling stake in the Iranian state-owned steel mill Esfahan Steel Co.
The proposal submitted by MMK includes the acquisition of Esfahan's steel producing plant as well as its iron ore mine and ore enrichment company.
According to reports, the next round of negotiations between Esfahan Steel and MMK will be held in April 2008.