Mordashov, Dolle meet with shareholders

On Tuesday, Mr. Mordashov, the largest shareholder of Severstal Group, and Mr. Dolle, the chairman of board of directors of Arcelor, had a meeting with Arcelor shareholders in London. The main reasons for the meeting were complains of some Arcelor shareholders about a lack of the proper discussion with investors about the merger, and the fear on the part of Mr. Mordashov and Mr. Dolle that the deal would not be approved by the shareholders at a special shareholders meeting in June. During the talk, Mr. Mordavosh defended the deal and said that he believes the merger would be a success. He also assured the shareholders that the new management will not mean to have a lot of Russians running everything in the new companies. He also rejected the information that he was taking his money out of Russia and said that besides the plans of the new company to acquire more assets, it plans to do a lot of investments in Russia.