Arcelor vs. Mittal Steel

Discussion in 'Europe' started by padisha emperor, Jan 31, 2006.

  1. padisha emperor
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    padisha emperor Senior Member

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    The group Mittal Steel, world leader in the steel domain, made an hostile public offer of purchase (in french, OPA, Offre Public d'Achat) against the group ARCELOR, world #2 in the steel domain.

    Mittal Steel is an indian company, but under the legislation of Netherlands.

    ARCELOR is an european group (FRANCE, LUXEMBOURG, SPAIN, BELGIUM) under Luxembourg's legislation.

    The French Government, with the minister of economy Thierry Breton, and the Prime Minister Dominique Galouezau de Villepin, are against this offer, like the Prime Minister of the Great Duchy of Luxembourg, Jean-Claude Junker.

    The facts are :

    Mittal Steel made a sales turnover of about 25 billions dollars, is in Asia and Middle East, and has 160,000 persons working for.

    ARCELOR made a sales turnover of about 37 billions of dollars, is in Europe and Canada, and has 95,000 persons working for.

    But Mittal Steel made more benefits, with less sales turnover and more people. So, it means that they really under-pay their employees.

    To give to you a comparison, itwould be like Airbus would make a such offer against Boeing.
     
  2. nosarcasm
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    nosarcasm Active Member

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    so tariffs and government intervention works well for France in
    the future ?
     

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