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European Goldfields Shares Up 20% After Trading Halt on Reports of Approach From Eldorado

European Goldfields Ltd. (EGU.TO) shares were halted earlier today on the Toronto Stock Exchange after a report the developer of mines in Greece has been approached about a takeover by Eldorado Gold Corp. ( ELD ), Bloomberg reported.

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, reports said.

European Goldfields, based in Whitehorse, Yukon Territory, was up 20% late Tuesday in Toronto. Eldorado, which is based in Vancouver, was down 1%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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