China's Yankuang Energy ends buyout talks with Yancoal Australia

China's Yankuang Energy said on Thursday it had walked away from a potential deal to buy the remaining shares in its majority-owned unit, Yancoal Australia, due to recent market conditions.

In June, the Chinese energy firm said it was open to negotiations with the Australian coal firm, in which it holds a 62.26% stake, after its $1.8-billion offer was rejected.