FILE PHOTO: Workers are seen underground South Africa's Gold Fields South Deep mine in Westonaria

South Africa's Gold Fields denies rumours of merger with AngloGold

JOHANNESBURG (Reuters) - South Africa's Gold Fields said on Tuesday that rumours it was looking to merge with rival bullion firm AngloGold Ashanti were "absolutely false" after shares of both companies firmed on speculation of a merger.

Shares in Gold Fields closed up 3.86 percent higher at 51.06 rand and AngloGold shares jumped 2.40 percent to 170.00 rand.

"The share price did react fairly sharply after that," said Ryan Woods, trader at Independent Securities, referring to speculation about a merger.

AngloGold, Africa's biggest gold miner, declined to comment on speculation it was looking at a tie-up.

(Reporting by Tanisha Heiberg; Editing by James Macharia)

2019-01-22 17:41:30

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