While L N Mittal is gearing up to take on the Europeans
in his battle for Arcelor, the world''s second-largest
steel maker, in South Africa Tata Steel ready to take
on the world''s largest steel maker, Mittal Steel, for
control of Highveld Steel.
is the second-largest steel maker in South Africa behind
Mittal Steel owned by $70.6 billion London-listed mining
giant Anglo American, which had appointed to Citigroup
to sell its 79-per cent holding in Highveld Steel, which
has a market value of £876 million.
November 2005 Tata Steel has been in talks with Anglo
American over a possible stake sale, even as Mittal Steel
SA, the country''s
largest producer of steel, has also been eyeing it. Highveld
is the world''s leading producer of vanadium, used in the
production of alloy steels.
for Mittal Steel represent s an opportunity of a monopoly
in South Africa.