Our Bureau

Mumbai Nov. 24

Tata Steel on Friday sought to underplay media reports that its board meeting on Thursday had considered increasing its 455 pence a share bid for acquisition of Anglo-Dutch steel maker Corus.

The company e-mailed a statement, which was so careful in its wordings that even Corus was not mentioned. The statement said: "Tata Steel has not taken any decision in the manner speculated in the media at its scheduled board meeting held on Thursday, November 23, 2006. Tata Steel is not making any other comments on this matter and all media comments remain speculations."

Analysts tracking the deal say Tata Steel will obviously not make public its next move until its rival suitor, Brazil's CSN, makes a formal bid for Corus. CSN had approached Corus last week with a bid of 475 pence a share.

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