KIEV, May 12 – Ukraine's largest holding System Capital Management (SCM) and its affiliate, Metinvest mining and metallurgical group, have denied mass media reports of their alleged acquisition of steelmaking giant Zaporizhstal steel mill.

"As of now, neither Rinat Akhmetov personally nor SCM Group (including Metinvest) are the owners of Zaporizhstal, neither are they formalizing a deal to buy that enterprise," SCM's press service said on Wednesday.