Mittal bid in EU jurisdiction: Frieden

Luxembourg Budget Minister said that the EU's executive body was responsible for reviewing Mittal Steel's bid to acquire Arcelor.

Luxembourg Budget Minister Luc Frieden said on Tuesday that the European Union's executive body was responsible for reviewing Mittal Steel's bid to acquire Arcelor.

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Speaking at a news conference about Luxembourg's adoption of a European Union directive on acquisitions, Frieden said the bid fell under EU jurisdiction.

Luxembourg Prime Minister Jean-Claude Juncker has been one of the most vocal opponents to the bid.

Juncker travelled to Paris and Brussels last week to try to build a political defense against the bid.

But EU officials have reminded EU member states that their powers to block such a deal were limited.