German steelmaker Salzgitter AG (SZG.XE) Wednesday denied it plans to issue a bond to finance increasing its stake in copper company Aurubis AG (NDA.XE).

"Salzgitter has no plans to issue a bond," a spokesman for the company said in response to market speculation earlier Wednesday.

He added that Salzgitter doesn't plan to increase its stake in Aurubis to over 29.9%, short of the 30% threshold that requires a takeover offer under German financial markets laws.

Salzgitter currently owns around 23% in Aurubis.

Company Web site: www.salzgitter-ag.de

-By Jan Hromadko, Dow Jones Newswires; +49 69 29 725 503; jan.hromadko@dowjones.com