Tata may increase Corus bid

The Indian steelmaker Tata Steel may raise its bid for Anglo-Dutch steel producer Corus by approximately 7-10 percent. The company will not pull out of the race for Corus, Tata's chairman Ratan Tata said late last week. Tata held series of round talks with its bankers for the final offer, which is expected to be submitted in mid-January. Tata offered to buy Corus in October. However, a few days before Corus shareholders could vote on the offer, CSN made a rival offer that raised the stakes.