iPhone | iPad
Android
Huawei
The pair tangled while battling for third place behind winner Oscar Piastri of McLaren and Ferrari's Charles Leclerc
KT APPDOWNLOAD
Iran steel maker says Mittal made $5-6 bln approach
TEHERAN - Steel giant Mittal has expressed an interest in buying state-run Iranian producer Foulad-e Mobarakeh for $5-6 billion, but the bid is highly unlikely to succeed, the Iranian firm said on Saturday.
Foulad-e Mobarakeh, which has annual steel production of 4.2 million tonnes, said Mittal made the approach two months ago, but the state was unlikely to surrender control of the firm while it was cranking up output.
“It goes back to two months ago and the amount discussed was between $5-6 billion,” Foulad-e Mobarakeh spokesman Sadeq Abtahi said. ”I do not think it would be a practical proposal ... I do not think the government has any reason to sell as we are doing very well.”
Abtahi said the company was waiting for the government to approve an expansion plan that would push output up to 7 million tonnes a year. The timeframe for the output rise was unclear.
Mittal Steel, owned by Indian-born tycoon Lakshmi Mittal, is also looking to take over European steel firm Arcelor.
More news from
Transaction includes approximately 86 million shares of Ma’aden and $150 million in cash
Celebrity endorsements rarely carry enormous weight, but the hugely popular Swift is seen as being in a class of her own
Zelenskiy is due to meet with US President Joe Biden this month and will present a plan for ending the war
Brazil has been parched by a historic drought that experts link to climate change and which has sparked what authorities have called a 'fire pandemic'
The ship was crossing the UAE's territorial waters when the medical emergency took place
The win, their third in a row away to their bitter rivals, puts Arsenal on 10 points from four games, two behind champions Manchester City
Generative artificial intelligence uses 30 times more energy than a traditional search engine