Brandes reduces its stake in Corus

Brandes reduces its stake in Corus

According to the sources, Brandes Investment Partners, the biggest shareholder of Anglo-Ducth steel producer Corus, has recently reduced its stake in the company as it is reluctant to merge with German steel producer TyhssenKrupp AG. Brandes Investment Partners has reduced its stake in Corus from 14.8% to 13.9%. The German producer in October formally announced that it was considering merging with another European steel producer but disclosed to name any candidate for the merger. On the other hand, Corus officials declined to comment on the subject.