Mittal may improve Arcelor's stainless activities

Steel giant Mittal Steel disclosed that it will keep the stainless steel activities of Luxembourg-based steelmaker Arcelor, if its proposed takeover bid succeeds. Arcelor has announced a strategic review of its stainless steel activities, which could result in a sale, a spin-off or an initial public offering. However, Mittal said that by leveraging its global skills, it would be able to improve the performance of Arcelor's stainless steel division.