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LONDON (AFP) - Mittal Steel, the world's biggest steel producer has announced that it controls 91.88 percent of European steel maker Arcelor following its 25-billion-euro takeover bid. "I am delighted at this result which is a resounding endorsement of the strategic logic and value of the merger of Mittal Steel and Arcelor, a truly industry transforming deal," Mittal chairman Lakshmi Mittal said in a statement received by media in London on Wednesday. He added: "We are very excited about our future as one company and believe this strong vote of confidence from shareholders paves the way for a speedy integration...

PARIS--Lakshmi Mittal built up the world's biggest steel company--and the third-largest personal fortune of any man--by acquiring mills in the dodgiest of places. He honed his deal-making skills on the frontiers of capitalism: in Indonesia, Kazakhstan, Algeria, the Balkans, often in countries one might need to look up in the very latest atlas. In the past week, however, the 55-year-old Indian mogul has found himself in arguably the most difficult business environment of all--Western Europe. In terms of political resonance as much as sheer size, Mittal Steel's hostile $24 billion bid for the world's second-largest steelmaker, Luxembourg-based Arcelor, is without...

Paris, February 3: France's opposition to Mittal Steel's bid for Arcelor is not due to the fact that its owner is Indian-born, Finance Minister Thierry Breton said on Thursday, brushing off alleged French arrogance towards an outsider. France's conservative government and the Socialist opposition have stepped up rhetoric against steel magnate Lakshmi Mittal's $24 billion bid for Arcelor, sparking criticism by an Indian minister and some commentators. "This has nothing to do with India or anyone else," Breton told Europe 1 radio. "This is a European company. The nationality of the shareholders has nothing at all to do with this....

Dominique de Villepin, the French prime minister, reacting to Mittal Steel's hostile takeover bid for Arcelor, has renewed his call for economic patriotism to protect key industries from foreign predators. "Economic patriotism is the mobilisation of all the participants, of all those concerned, the shareholders but also the company bosses," Villepin told France 2 television on Tuesday. His comments came as European resistance mounted to the 18.6bn-euro ($22.7bn) bid by Mittal Steel, the world's biggest producer, to seize control of Arcelor, a steel group that is one of the continent's cherished industrial champions. "Think about the structure of your capital,...

LUXEMBOURG, February 01: Luxembourg's prime minister vowed on Tuesday to use "all necessary means" to fend off a hostile $23 billion bid by steel magnate Lakshmi Mittal for Arcelor, one of Europe's biggest companies. Speaking to the Grand Duchy's parliament after meeting with the Indian-born billionaire, Jean-Claude Juncker criticised him for not consulting him ahead of time, adding that he did not think a deal was in the best interest of Europe. "I am determined -- as is the government -- to do everything to preserve everything that we have worked for and that we believe in ... by using...

Sparks fly as Arcelor attacks Mittal Steel bid · Chief executive lambasts record on jobs and safety · Deal ruled out after surprise hostile approach David Gow in Paris Tuesday January 31, 2006 The Guardian Arcelor, the European steelmaker, yesterday launched its defence against Mittal Steel's hostile €18.6bn (£13bn) takeover bid with a savage attack on its predator's track record, claiming Mittal had destroyed shareholder value and jobs and had a shoddy record on corporate governance and safety. Taking the gloves off in what executives promised would be a six-month battle, Guy Dollé, Arcelor chief executive, virtually ruled out any...