Mittal's bid not India-specific issue: FM
Finance Minister P Chidambaram on Tuesday said the bid for Arcelor, by steel tycoon L N Mittal, was not an India-specific issue and the opinion of the shareholders mattered more than that of the French Government.
By PTI |
BRUSSELS: Finance Minister P Chidambaram on Tuesday said the bid for Arcelor, by steel tycoon L N Mittal, was not an India-specific issue and the opinion of the shareholders mattered more than that of the French Government.
"It (Mittal's takeover bid) is not an India-specific issue," Chidambaram was quoted as saying by Brussels-based ethnic news service India News in Europe Programme(INEP).
"The French Goverment may have its opinion, but it is the shareholders opinions that count," Chidambaram said when asked about the French government's pungent comments about Mittal's bid.
The Finance Minister said he was confident that the shareholders would make the right decision at their shareholders' meeting.
"This issue has only concerned India because Lakshmi Mittal is an Indian born entrepreneur. We are very proud that an Indian is the world's largest steel maker and we wish him good luck in his endeavours," Chidambaram said.
Chidambaram was here to speak to European Union officials, policy makers and businessmen about India's rapidly growing economy and its future prospects.
"Growth with social justice is imperative," he said making a firm commitment to domestic demand and export driven growth, adding his goal was to eradicate poverty.
Chidambaram also expressed concern over the rising oil prices, urging, "the world must unite to find a solution to the oil crisis."
"It (Mittal's takeover bid) is not an India-specific issue," Chidambaram was quoted as saying by Brussels-based ethnic news service India News in Europe Programme(INEP).
"The French Goverment may have its opinion, but it is the shareholders opinions that count," Chidambaram said when asked about the French government's pungent comments about Mittal's bid.
The Finance Minister said he was confident that the shareholders would make the right decision at their shareholders' meeting.
"This issue has only concerned India because Lakshmi Mittal is an Indian born entrepreneur. We are very proud that an Indian is the world's largest steel maker and we wish him good luck in his endeavours," Chidambaram said.
Chidambaram was here to speak to European Union officials, policy makers and businessmen about India's rapidly growing economy and its future prospects.
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"Growth with social justice is imperative," he said making a firm commitment to domestic demand and export driven growth, adding his goal was to eradicate poverty.
Chidambaram also expressed concern over the rising oil prices, urging, "the world must unite to find a solution to the oil crisis."
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