Date:28/01/2006 URL: http://www.thehindubusinessline.com/2006/01/28/stories/2006012803080100.htm

Back Arcelor takeover: Matter of pride, says SAIL Chairman

NEW DELHI: It is quite a happy thing, mainly for two reasons, according to the SAIL Chairman, Mr. V.S. Jain.

First, it is a matter of pride that an Indian has reached this height to control such a leading share of interest in global steel production capacity.

Second, as such the trend in different sectors world over is consolidation through mergers and acquisitions. In fact, one should expect more such mergers and acquisitions to take place in the industry. The steel industry is replete with large number of small players.