Dec. 6 (Bloomberg) -- European Goldfields Ltd. shares were halted on the Toronto Stock Exchange after a report the developer of mines in Greece has been approached about a takeover by Eldorado Gold Corp.
The halt was reported in a statement today from the Investment Industry Regulatory Organization of Canada. Eldorado’s proposal to European Goldfields threatens to scuttle a move by Qatar Holding LLC to buy a stake in European Goldfields, Sky News’s Mark Kleinman reported on his blog, without disclosing the source of the information.
European Goldfields, based in Whitehorse, Yukon Territory, rose 15 percent to C$11.46 before the halt in Toronto. Eldorado, which is based in Vancouver, fell 1.6 percent to C$17.13 at 10:32 a.m. in Toronto.
Steve Sharpe, European Goldfields’s senior vice-president of corporate development, and Nancy Woo, a spokeswoman for Eldorado, didn’t immediately return calls from Bloomberg News for comment.
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