CSN (CSNA3.SA), Brazil's largest diversified steelmaking group, boosted its stake in rival Usiminas and said that further purchases could take place, fanning speculation about a possible tie-up between the companies. Sao Paulo-based CSN upped its stake in Usiminas voting shares (USIM3.SA) to 5.03 percent from the 4.99 percent first unveiled on Jan. 13, according to a securities filing that was signed by Chief Financial Officer Paulo Penido Marques. Usiminas is Brazil's biggest maker of flat steel products. In the Thursday filing, CSN said further stock purchases could take place, leading to a reconfiguration of Usiminas' controlling bloc. CSN kept its 4.99 percent of nonvoting Usiminas shares (USIM5.SA) unchanged.
Source
