Arcelor Mittal's bid for Essar Steel high but Vedanta is most eligible
Vedanta chairman Anil Agarwal says Essar Steel is a great asset although he finds the Rs 42,000-crore bid by steel magnate Lakshmi Mittal quite high. He added that the matter was at the stage of determining the eligibility of bidders, for which Vedanta has the best credentials. However, if Mittal takes over the company, Agarwal said as a nationalist he would welcome it if he comes with a bag of money and good governance. On insolvency, he said the process gives short-term pain for some, but is good as it brings discipline and protects money collected by banks from the common man.
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