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Home > Business > PTI > Report

Mittal open to acquisitions in India

July 07, 2006 16:36 IST

Steel tycoon L N Mittal on Friday said he was open to acquiring Indian steel companies.

"Who said that I am not interested," he told reporters at a press conference here when asked whether he was interested in Indian companies.

On Tata Steel deciding to increase promoters stake to ward off hostile takeovers, Mittal said: "Why Tisco should be vulnerable? It is news to me."

On his proposed investment plans in Jharkhand and Orissa, he said: "We are evaluating our position. The progress (in Jharkhand) is not as satisfactory as we would like it to be. It may not be both. If the progress is not satisfactory, we will have to take a decision."

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