A Russian investor looks set to plunge Corus into more turmoil.
Alisher Usmanov, who has steadily built up his stake in the Anglo-Dutch steel firm, is reported to have said he will take steps to increase his influence at the company unless he is given a seat on the board.
Last month he increased his holding in the company from 7pc to 11.03pc, sparking rumours of a joint venture with the Teesside business.
The entrepreneur, who owns iron ore mines and steel plants, has previously expressed an interest in the Teesside site and industry sources hinted that he could be looking to form a joint venture with Corus Teesside Cast Products.
Having previously denied he is looking for a seat on the Corus board he is quoted in a national newspaper today saying that he is prepared to call a meeting of shareholders to seek a special resolution.
