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Mittal: it's just speculation

Special Correspondent

NEW DELHI: Arcelor Mittal on Saturday dismissed media reports of the world's largest steel maker looking to acquire the South Korean rival Posco for strengthening its foothold in Asia.

"These are all speculations," chief executive officer L.N. Mittal said responding to a query by mediapersons, after attending a convocation at the IMT, Ghaziabad.

The Korea Economic Daily on March 16 reported that Arcelor-Mittal was mulling over a hostile takeover of Pohang Steel Company (Posco) and a message about its interest was conveyed to the Korean major last month.

Earlier in February, Roland Junck, an adviser to Mr. Mittal, asked Posco specific questions about its merger and acquisition strategies in Asia, according to the report.

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Mittal: it's just speculation

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