Mittal claims securing 92% of Arcelor shares

With this Mittal's company moves towards completing its $32.88 billion takeover of its European competitor.

Mittal Steel said on Wednesday it had secured 92 per cent of the shares in Arcelor as Mittal moves towards completing its $32.88 billion takeover of its European rival.

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"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," Lakshmi Mittal, Chairman and Chief Executive of Mittal Steel, said in a statement.

"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 process, allowing us to realise the full benefits of working together as the undisputed world steel leader," he added.