steel-maker CSN says it is still committed to acquiring
Anglo-Dutch steel maker Corus, and has denied a report
in the Financial Times suggesting that CSN''s bid
could be derailed by a legal dispute over an iron ore
supply in Brazil, reports CNBC-TV18.
Financial Times report suggested that Brazilian
mining group CVRD would challenge CSN''s ability to supply
iron ore to Corus, should its bid succeed.
supply is one of the key factors weighing in favour of
the Brazilian steelmaker in the chase for London-based
Corus group. In response to this report, a CSN spokesperson
said, "Should CSN acquire Corus, it will exercise
its rights to supply iron ore from its Casa de Pedra mine
to all its operations, including those in Europe."
is no basis for this story. There is no change to our
position or our commitment to acquire Corus," he
UK Takeover Panel is slated to decide on the process for
the Corus acquisition by 30 January.