Sixty percent of Arcelor stock traded

Luxembourg’s Minister of Economy and Foreign Trade Mr Jeannot Krecke has told Indian Commerce and Industry Minister Mr Kamal Nath that as much as 60% of Arcelor’s equity had changed hands since the day Mittal Steel announced its bid for the European steel major. But Mr Krecke did not name the identities that had bought these shares. Of Arcelor’s remaining 40% shareholding, around 6% was with the Luxembourg government, while the remaining was with hedge funds Mr Krecke added. He said Luxembourg might choose to retain its stake in Arcelor even if Mittal Steel succeeded in the takeover bid.

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