CSC in talks with rivals to avoid possible takeover bids

Taiwan's largest steelmaker China Steel Corporation (CSC), 23 percent of which is owned by the government, is reportedly in talks with rivals on possible shareholdings exchange in an effort to avoid hostile bids such as Mittal Steel's takeover of Arcelor. Mr. Chang, the company's vice president and chief financial officer, said that CSC is in talks with a few companies on the matter but refused to comment further.