Thursday, September 01, 2005

Corus bid for Salzgitter?

Rumours are circulating that UK/Dutch steel group Corus is about to make a bid for Salzgitter.

LONDON (SHARECAST) - Steel & Other Metals topped the sector risers today after reports began circulating that Anglo-Dutch steel maker Corus is planning a takeover of German rival Salzgitter.

The news pushed shares in the steel maker higher, though traders remained sceptical over the possibility of such a deal as the German state of Lower Saxony has a blocking minority stake in Salzgitter until 2010.SOURCE

A Salzgitter spokesperson would not confirm the rumour.

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