A win-win for both sides: Lord Paul
Lord Paul said both Tata Steel as well as Corus were very good companies -- "so the match may be a win-win situation."
By PTI |
LONDON: NRI industrialist Lord Swraj Paul on Thursday felt that an alliance between India's Tata Steel and Anglo-Dutch steelmaker Corus would be a win-win situation for the two sides.
In his comments after the two companies announced reaching an agreement on a takeover deal here, he said: "There is consolidation taking place in the steel industry... it certainly is (moving) in that direction and I am sure it will be a very good idea."
Lord Paul said both Tata Steel as well as Corus were very good companies -- "so the match may be a win-win situation."
The proposed 8.09 billion dollar (4.3 billion pound) deal, which won the support of Corus Board, would make Tata Steel the world's fifth largest steel company with an annual capacity of 23.5 million tonnes.
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