ArcelorMittal has sold part of its stake in a Chinese steelmaker it wants to control so it can meet the minimum free float requirement in Hong Kong where the shares trade.
So while awaiting Chinese government approval to take a controlling 73 per cent interest in China Oriental, ArcelorMittal is also proceeding with another deal that would give it an equally controlling 55 per cent of the company.
For Orascom, the real jewel in HTIL's crown was Hutchison Essar, India's fourth largest mobile phone company and a natural complement to its existing operations in Pakistan and Bangladesh.
© 2025 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances