Mittal doesn’t regret global acquisitions
Unlike business icon Ratan Tata, steel tycoon LN Mittal has no regrets about his global acquisition spree that earned him the 'biggest steel maker' title and, with it, lots of problems.business Updated: Aug 03, 2009 00:31 IST
Unlike business icon Ratan Tata, steel tycoon LN Mittal has no regrets about his global acquisition spree that earned him the “biggest steel maker” title and, with it, lots of problems.
“We are the merger of the two best companies... the merged entity is a winner,” Mittal said from Luxembourg when asked if he wished that his group was still Mittal Steel and not ArcelorMittal.
On whether he had any regrets like that expressed by Tata on his group’s global acquisitions of Corus and JLR — the takeovers that made the Tata group struggle hard to find finance due to slowdown blues— Mittal said, “I don’t want to comment on this question.”
However, on the amalgamation of his very own Mittal Steel with Arcelor, he said, “In difficult times, our strategies have not changed, our growth plans have not changed and this merged company is clearly a winner.”