Ad
Arcelor-Mittal will have around 10 percent of the global steel market, producing three times more than its nearest rival (Photo: Wikipedia)

Indian tycoon wins battle for European steel giant

European steel giant Arcelor is set to merge with the Indian-owned Mittal, despite initial resistance from European politicians.

The deal, which would create the world's largest steel producer, was clinched after more than eight hours of talks on Sunday (25 June) which saw substantial concessions from Mittal, according to press reports.

The €25.8 billion merger, which still needs shareholders' consent this week, follows a month-long saga in which Arcelor's leadership, backed by ...

To read this story, log in or subscribe

Enjoy access to all articles and 25 years of archives, comment and gift articles. Become a member for as low as €1,75 per week.

Already a member? Login
Arcelor-Mittal will have around 10 percent of the global steel market, producing three times more than its nearest rival (Photo: Wikipedia)

Tags

Ad

Related articles

Ad
Ad