Belgium to decide on Mittal’s bid by April

Belgium will decide on Mittal Steel’s offer for Arcelor after its investment bankers wrap up a full analysis by the end of March or early April, Belgian Prime Minister Mr Guy Verhofstadt said 7 March 2006. Mittal Steel CEO Mr LN Mittal handed Mr Verhofstadt the company’s business plan running more than 100 pages at a meeting on 7 March 2006, making Belgium the first government to receive such details on what Mittal plans to do after it buys Arcelor. Mr Verhofstadt refused to outline the details of the plan. Unlike France, Luxembourg and Spain, Belgium has not criticized the deal. Mr Verhofstadt said last month he would take “a rational approach” and carefully analyse the deal before he gave his opinion. “We want to understand the role that Belgium will play in future in this very important sector,” he said.

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