Arcelor Mittal bids for Russia's MMK-Vedomosti

Moscow, Dec 20: The world's biggest steelmaker, Arcelor Mittal, has offered to buy a controlling stake in Russiansteelmaker MMK, Vedomosti newspaper quoted a sourceclose to the owners of MMK as saying on Wednesday.

Vedomosti said Arcelor Mittal representatives visited MMK a monthago and the firm had made an offer to its main owner Viktor Rashnikov.The paper did not say how much Arcelor Mittal had offered to pay.

According to Reuters data, MMK has a market capitalisation of about billion.

Reuters