Laiwu Steel Group has extended the deadline on selling a 38.41 percent stake in Shanghai-listed unit Laiwu Steel Corp to Arcelor Mittal as the deal is still awaiting regulatory approval.

Laiwu Steel Group and Arcelor Mittal have agreed to extend the deadline to December 31, and at that time, if the deal hasn't been finalized but seems close to completion, it will be extended further to March 31, 2008.