Usmanov wants to consolidate his presence in Corus

Usmanov wants to consolidate his presence in Corus

According to recent news in the market, Russian investor Alisher Usmanov who has 11.03% share in Corus announced that he will follow strategic tactics to have seat on the board of Corus. However, according to the statement released from Corus, the company is not ready to give a seat on the board to Usmanov unless he raises his stake to 25%. Meanwhile, another Russian investor Oleg Deripaska, who controls aluminum mill Rusal has recently bought a small share in Anglo-Dutch steel maker Corus. The share is stated to be below 3%. Oleg Deripaska is also known to have close business links with Usmanov. Moreover, Usmanov is stated to be encouraging Russian investors to buy stake in Corus.