On January 16, Bulgaria's steelmaker Kremikovtzi denied media reports that its owner, India's Global Steel Holdings, was in negotiations to sell the mill, Reuters said.

"The press office is authorised to say that the information for the sale of Kremikovtzi is an attempt to manipulate the public opinion," Reuters quoted a Kremikovtzi media statement.

Bulgarian daily Standart had said that two Ukrainian companies and a Russian one were interested in buying the plant and that the deal was likely to be sealed in late January.

Speculation that the steelmaker would be shut down or sold grew in the past several months, forcing Kremikovtzi to issue denials, Reuters said.