International - India & World   

Talks making progress: Mittal

PARIS: Steel magnate Lakshmi Mittal hit back on Thursday at what he called ``disinformation'' about his company's $25.9 billion hostile bid for smaller rival Arcelor SA and said talks with European politicians had made ``good progress.''

Speaking during a visit to a Mittal Steel Co. plant in Gandrange, northeastern France, Mr. Mittal put aside his usual reserve to issue an uncharacteristically blunt response to arguments advanced by Luxembourg-based Arcelor, as it seeks to resist Mr. Mittal's offer.

Many of the claims have been ``disingenuous and misleading,'' Mr. Mittal said. ``It's natural that change should prompt concerns ... But it's wrong when people who should know better play upon such fears through use of disinformation.''

Defending the takeover plan, he rejected suggestions that the Rotterdam-based company was ``interested in scale for scale's sake.'' He also dismissed suggestions that its greater presence in developing countries and lower-grade market segments is a negative point. — AP

Printer friendly page  
Send this article to Friends by E-Mail

Stories in this Section

Nepal out on the streets; police fire at protesters
Stalemate in Sri Lanka continues
Iran responding to pressure: Straw
Iraq tussle takes new turn
List of Guantanamo detenus released
"Children being beaten up"
Oil briefly hits record high
Crackdown on dress code in Iran
Singapore poll on May 6
Life term for journalist
Manmohan points to unilateral moratorium
Talks making progress: Mittal

Copyright © 2006, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu