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Wait, a company which claims itself to be a "national champion" is actually using a tax haven ( inc. in Luxembourg )?
Very patriotic.
Very patriotic.
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I didn't say Chirac's resistance is irrelevant, I said calling Arcelor a national champion isn't correct.Originally posted by Spiffor
That's no matter.
In the mind of the French voter, it is a French national champion. And Chirac can try to convince other governments, that are closer to Arcelor's decision-structure, to make an effort against the takeover as well. For example, Luxembourg is already opposed to it. Also the EU has decision power about takeovers.
Politics can have influence on the takeover, and the issue is salient in French politics. Ergo, Chirac's resistance to the takeover isn't as irrelevant as you'd wish.
As far as I can see the commission can only block the takeover on the grounds of competition. Mittal's and Arcelor's activities do not overlap however. Mittal officially resides in the EU as well and the states of Luxembourg and Wallonia their share in Arcelor is rather small. Hence there isn't much they legally can do.DISCLAIMER: the author of the above written texts does not warrant or assume any legal liability or responsibility for any offence and insult; disrespect, arrogance and related forms of demeaning behaviour; discrimination based on race, gender, age, income class, body mass, living area, political voting-record, football fan-ship and musical preference; insensitivity towards material, emotional or spiritual distress; and attempted emotional or financial black-mailing, skirt-chasing or death-threats perceived by the reader of the said written texts.Comment
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There are serious financial reasons not to find the Mittal offer very attractive : 4 Mittal shares and 35 Euros against 5 Arcelor shares.
1. The Mittal shares do not have a full vote right
2. The market liquidity of the Mittal shares has not yet been demonstrated since only 13% were on the market with 2% vote rights.
It is not unreasonnable for the Arcelor shareholders to ask for more informations and for more cash.Statistical anomaly.
The only thing necessary for the triumph of evil is for good men to do nothing.Comment
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Mittal come from India?
The foundaters of Mittal (Lakshmi Mittal) come from India but live in London.
Mittal doesn't have any factory in India.blehComment
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AFAIK Mittal has steel mills in India too.
Economic nationalism
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Strike while the iron is hot
Steel is strongest, so say we all
And if we all were not brothers of metal would we fall? - NO! -
The enemy cannot push a button if you disable his hand.Comment
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Luxembourg's corporate tax is around 30%, pretty much in line with most of the EU. The reason it's HQ is sited there is probably because Arbed, the luxembourgian steel firm, was one of the main partners in the merger that led to Arcelor, and because it's considered to be a relatively "neutral" country.Originally posted by Az
Wait, a company which claims itself to be a "national champion" is actually using a tax haven ( inc. in Luxembourg )?
Very patriotic.
DISCLAIMER: the author of the above written texts does not warrant or assume any legal liability or responsibility for any offence and insult; disrespect, arrogance and related forms of demeaning behaviour; discrimination based on race, gender, age, income class, body mass, living area, political voting-record, football fan-ship and musical preference; insensitivity towards material, emotional or spiritual distress; and attempted emotional or financial black-mailing, skirt-chasing or death-threats perceived by the reader of the said written texts.Comment
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Luxembourg's corporate tax is around 30%, pretty much in line with most of the EU. The reason it's HQ is sited there is probably because Arbed, the luxembourgian steel firm, was one of the main partners in the merger that led to Arcelor, and because it's considered to be a relatively "neutral" country.
Steel, why anyone cares?Comment
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Shares, why anyone cares?Originally posted by Az
Steel, why anyone cares?Statistical anomaly.
The only thing necessary for the triumph of evil is for good men to do nothing.Comment
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A cross between an arse and a chancellor?Speaking of Erith:
"It's not twinned with anywhere, but it does have a suicide pact with Dagenham" - Linda SmithComment
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Originally posted by Serb:Please, remind me, how exactly and when exactly, Russia bullied its neighbors?
Originally posted by Ted Striker:Go Serb !
Originally posted by Pekka:If it was possible to capture the essentials of Sepultura in a dildo, I'd attach it to a bicycle and ride it up your azzes.Comment
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Dozens of thousands of jobs notwithstanding, steel is also a key resource in the current juncture of rapid industrial growth in Asia. The demand for steel has quickly risen, and this "has-been" industry is currently characterized by its dynamism.Originally posted by Az
Steel, why anyone cares?"I have been reading up on the universe and have come to the conclusion that the universe is a good thing." -- Dissident
"I never had the need to have a boner." -- Dissident
"I have never cut off my penis when I was upset over a girl." -- DisComment
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Well, "dynamism" is way too strong a way to put it. This is steel, after all.I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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Thanks Davout. This does smell at least a bit fishy.Originally posted by DAVOUT
There are serious financial reasons not to find the Mittal offer very attractive : 4 Mittal shares and 35 Euros against 5 Arcelor shares.
1. The Mittal shares do not have a full vote right
2. The market liquidity of the Mittal shares has not yet been demonstrated since only 13% were on the market with 2% vote rights.
It is not unreasonnable for the Arcelor shareholders to ask for more informations and for more cash.(\__/) 07/07/1937 - Never forget
(='.'=) "Claims demand evidence; extraordinary claims demand extraordinary evidence." -- Carl Sagan
(")_(") "Starting the fire from within."Comment
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