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Brazil's Usiminas says no decision on possible capital increase
March 9, 2016 / 9:23 PM / 2 years ago

Brazil's Usiminas says no decision on possible capital increase

SAO PAULO, March 9 (Reuters) - Brazilian steelmaker Usiminas said on Wednesday that no decision has been made on a possible capital increase, but confirmed that the theme will be discussed at a board meeting on Friday.

Usiminas shares jumped almost 24 percent on Wednesday after Reuters reported on Tuesday that Japan’s Nippon Steel & Sumitomo Metal Corp plans to push hard for a cash injection of 1 billion reais ($271 million).

$1 = 3.685 reais Reporting by Marcelo Teixeira; Editing by Chris Reese

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