Tata Steel Ltd. (500470.BY) will hold on to its 27.1% stake in Africa-focused coal miner Riversdale Mining Ltd. (RIV.AU), B. Muthuraman, the Indian company's non-executive vice chairman, told reporters Monday.

He didn't elaborate.

London-based miner Rio Tinto PLC (RIO.LN) is seeking to acquire full control of Australia's Riversdale, where Tata Steel is the only major shareholder that hasn't yet sold off its stake to Rio.

- By Saurabh Chaturvedi, Dow Jones Newswires; 91-11-4356-3358; prasenjit.bhattacharya@dowjones.com
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