Vale (VALE +3%) says it hasn't been contacted by ThyssenKrupp about a reported proposal to...

|About: Vale S.A. (VALE)|By:, SA News Editor

Vale (VALE +3%) says it hasn't been contacted by ThyssenKrupp about a reported proposal to increase its stake in a troubled Brazilian steel mill. The German steelmaker is seeking to sell two plants in the Americas, including one near Rio de Janeiro in which Vale has a 27% stake. One proposal was said to have Vale increasing its stake in the mill to 33%.