Russian investor increases stake in Corus

Russian investor increases stake in Corus

Recent news in the market reports that, Russian investor Alisher Usmanov has increased his stake in Anglo-Dutch steel producer Corus from 7% to 10.03%, indicating an amount of £190 million. Initial stake of Usmanov was 5.1% by mid 2003. As previously reported by SteelOrbis, he increased his stake to 7% in September. Usmanov, who has shares in two different iron ore plants, possessing a 10% share in Corus, will now be able to access to the board of company, moreover he plans to sell iron ores of Corus. However, as per the statement released by Corus, the company has no intention to change its board structure and sales policy.