Mttal Steel confirms merger deal with Arcelor

BRUSSELS, June 25 (Reuters) World steel leader Mittal Steel agreed a merger deal with European rival Arcelor to create a steel giant whose production will be three times larger than its rivals, the company said on Sunday.

''We have always sought a recommended merger in the interests of all stakeholders -- we are delighted that is what we have now achieved,'' a Mittal spokesman said in a statement.

The company added that it had paid a ''fair price for what is a very good business''.

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