RIO DE JANEIRO -(Dow Jones)- Brazil's antitrust agency Cade, part of the country's justice ministry, suspended steelmaker Companhia Siderurgica Nacional SA's (CSNA3.BR, SID) shareholder rights at rival Usinas Siderurgicas de Minas Gerais SA (USIM3.BR, USIM5.BR, USNZY), known as Usiminas, following CSN's recent purchases of Usiminas stock. The suspension, part of a caution issued to CSN on Wednesday by the antitrust agency, will last until Cade judges whether CSN's recent purchases of Usiminas shares infringe free-competition rights in the market, a Cade spokeswoman said. CSN has also been barred from further purchases of Usiminas shares as part of the cautionary measure, she said. CSN has in recent months made successive purchases of shares in Usiminas, which is its principal rival in the Brazilian flat steel products market. CSN currently holds around 16% of Usiminas's overall capital but doesn't form part of the company's controlling shareholders' agreement. According to analysts, CSN has invested in Usiminas because its relatively low share price made it a good investment. No date has yet been set for Cade's judgment on the case, the spokeswoman said. -By Diana Kinch, Dow Jones Newswires, Tel: 55 21 2586 6086, diana.kinch@dowjones.com
