New takeover bill not to affect Mittal bid

Luxembourg's Economy Minister Jeannot Krecke said the nation has no intention of blocking Mittal Steel's controversial bid for rival Arcelor with a planned new takeover bill. Krecke said the new takeover bill aims to secure the interests of shareholders. The Luxembourg government, which owns 5.6 percent of Arcelor, opposed to the bid for Arcelor by Mittal Steel. Krecke will meet India's Trade Minister Kamal Nath, Finance Minister Palaniappan Chidambaram and Steel Minister Ram Vilas during his two-day visit to New Delhi.