Luxembourg not to sell Arcelor’s shares

PTI has reported that the Luxembourg Government, the largest shareholder in Arcelor on 24 March 2006 made it clear that it has no reason to sell the shares in the near future. Mr Schulles said the Luxembourg Prime Minister Mr Jean-Claude Juncker has also made this clear in Brussels. Incidentally, it was reported on 24 March 2006 that Mr Juncker said he was not satisfied with draft changes introduced by the Parliament to the country’s takeover law, which may help Arcelor fend off Mittal Steel’s unsolicited bid. The Prime Minister said the government would not take any legal steps or actions and that it was up to the shareholders to decide whether to accept Mittal’s bid.

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