Mittal Steel rejects SPFU's accusations

Mittal Steel rejected the accusations of the State Property Fund of Ukraine (SPFU) regarding the non-fulfillment of Kryvorizhstal's ownership obligations. As it was reported earlier this week, the SPFU warned Mittal Steel that it might sue the company and pronounce the sale of Kryvorizhstal's illegal if Mittal Steel would not increase the wages as well as pay ’thirteen' salary. Mittal Steel, in the official statement, countered that it has fulfilled almost all of its 60 obligations and accused the SPFU of misinterpreting one of its obligations. ’To talk about breaking off the deal because of existing disagreements in interpreting one clause of the obligations…is illogical and wrong', the company's spokesman Frank Pannira said.