The Arcelor chief executive, Guy Dollé, described Mittal as a “company of Indians” whose steel was “eau de cologne” to Arcelor’s “perfume.” When Mittal persisted, Arcelor’s management brought in a Kremlin-backed Russian bidder as a white knight, whom Arcelor’s chairman described as a “true European.”
For Mittal, the Indian-born steel magnate, the deal caps an effort that lasted decades to rise from the shadows to build a global steel conglomerate. Born in an village without electricity in India’s Rajasthan state, to the desert- dwelling Marwari merchant clan, Mittal became something of a symbol of globalization, for its supporters and critics alike.
To the former, he is a new-age, borderless businessman shaking up the genteel, antiquated ways of “Old Europe.”
Ha Ha Ha…