Teck boosts stake in Cominco (April 12, 1999)

Teck (TEK-T) has increased its ownership in Cominco (CLT-T) by purchasing 2.5 million of that company’s shares through the Toronto Stock Exchange.

During the past 12 months, Teck acquired just under 4.2 million shares of Cominco through the Toronto Stock Exchange facilities. It now holds about 33 million shares, representing a 39% stake. Teck says it acquired the shares for investment purposes and that while it has no immediate plans to increase its position, it might do so in the future.

Teck is the largest shareholder in Cominco, which is one of the world’s largest producers of zinc.