European Union says nationality not an issue in Mittal bid
Brussels: The European Union has said Indian steel magnate Lakshmi Mittal's nationality or origin would have no bearing on his bid to takeover Arcelor. Peter Power, spokesperson to EU trade commissioner Peter Mandelson, clarified here that Mittal's bid would be blocked only if there are considerable commercial aspects that would violate WTO regulations. Opposition voiced against London-based Mittal's Euro 18.6 billion takeover bid for the Luxembourg based steel maker Arcelor by stakeholder countries, Luxembourg and France, is being increasingly seen as having racist and protectionist undertones by Indians.
No comments:
Post a Comment