Aug 6 (Reuters) - Iron ore miner Fortescue Metals Group (FMG) said on Monday it reduced its stake in smaller peer Atlas Iron (AGO) by 8.53 percent, or A$33.2 million ($24.6 million), as per Atlas shares' closing level on Friday.
Fortescue had built up a 19.9 percent interest in Atlas in June, giving it a large enough hold to block a takeover by then suitor Mineral Resources Ltd (MIN) .
However, Atlas endorsed a A$390 million ($288.6 million) offer from billionaire Gina Rinehart's Hancock Prospecting later that month. ($1 = 1.3512 Australian dollars)
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