Europe lowers drawbridge, steel giant born - by Heather Timmons and Anand Giridharadas
A NEW steel giant is emerging from a bitter battle, after Arcelor agreed to a merger with its rival Mittal Steel in a deal worth €26.8 billion ($A33.5 billion).
Arcelor, a symbol of successful, pan-European co-operation and economic revival, has operations that span Belgium, France, Luxembourg and Spain.Mittal Steel is a fast-growing conglomerate founded by the India-born Lakshmi Mittal, who built a fortune turning around troubled steel plants in expanding markets from Trinidad to Kazakhstan.
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