Opinion - Letters to the Editor   

Persistence pays

At last, Arcelor has accepted Lakshmi Mittal's offer to merge the world's second largest steel-maker with Mittal Steel. Mr. Mittal's persistent efforts have paid off. His determination in the face of racist remarks, and hurdles by the Arcelor Board of Directors, was commendable. The merger will boost the morale of Indian companies and encourage them to acquire foreign companies to enhance their presence in the world. Mr. Mittal is the face of burgeoning Indian economy.

Akhil Kumar,
New Delhi

* * *

The victory of Mittal Steel must be seen as the triumph of persistence. Ever since the negotiations began, there were roadblocks and unsavoury comments from certain sections of the Arcelor management. That Mr. Mittal did not pay heed to the racist bias shows he is a shrewd businessman.

N. Sivaraman,
Maraimalainagar, T.N.

* * *

Mr. Mittal deserves praise for his success in taking over Arcelor despite stiff resistance. Now that he has achieved his goal of consolidation, one will have to wait and watch how he succeeds in countering the wide fluctuation in steel prices.

B. Harish,
Mangalore

* * *

The merger is a unique achievement from an Indian point of view as Mr. Mittal has fought racism using his business prowess to create a global steel manufacturing company spanning four continents. He surely deserves recognition from the Government of India.

Sushil Mehra,
Bangalore

* * *

While India rejoices over the consolidation, it is also a matter of concern that the largest and the second-largest steel producers are merging into a giant company, which can control the international steel market. It is surprising that the media, which largely swears by market economy and the competition it engenders, are so exuberant about it.

K. Vijayakumar,
Bangalore

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