Article: Brazil : Paranapanema denies sale of group, admits talks with Vale.

Byline: pinto03

Sao Paulo-based Paranapanema group denied Wednesday it has been in merger talks with Brazilian mining giant Vale but confirmed the two companies have made preliminary contacts regarding the possible sale of the former's copper processing unit Caraiba Metais and fertilizer producer Cibrafertil.

Vale issued a similar statement the day before in reaction to press reports that it was interested in acquiring Paranapanema.

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