The group of companies that control Brazilian steelmaker Usiminas denied there was a proposal to sell some or all of their stakes in the company.

According to a regulatory filing published, Usiminas, which over the past year has been at the center of speculation over a possible sale to smaller rival CSN said that Nippon Steel Corp, industrial conglomerates Camargo Correa and Grupo Votorantim and employee pension fund Caixa de Empregados de Usiminas, are not currently negotiating sales of their stakes.

(Sourced from Reuters)