Mittal Steel to buy stakes of Valin Steel

摘要

Mittal Steel Co., the world's biggest steelmaker, received final approval to buy a 2.56 billion yuan (US 316 million dollars) stake in China's Hunan Valin Steel Tube & Wire Co. (SZA: 000932), helping to boost its share of global steelmaking capacity. The Rotterdam, Holand-based Mittal would become Hunan Valin's second-biggest shareholder with a 36.7 per cent stake after the Commerce Ministry sanctioned the purchase, the listed arm of China's ninth biggest steelmaker said in a statement to the Shenzhen Stock Exchange.