Evraz not to buy Corus

Evraz Group, one of the largest steel mills in Russia, has talked with Anglo-Dutch steelmaker Corus about possibility of buying stake in the company, but has no intentions to do so in the near future, Alexander Frolov, Evraz's Chairman said today. Mr. Frolov said that the company will proceed with its strategy of expansion abroad, but do not consider acquisition of Corus as a part of Evraz's strategy due to high costs. He also confirmed that Evraz will continue to pay 25 percent of its net profit as dividend regardless the sale of 41 percent stake in the company to Millhouse.