Tata Steel has finally won the battle for Corus Group (CGA) for roughly $12 billion.. a battle that one hopes does not prove Pyrhhic in the end! Even with a bid of USD 8 bn the S&P had placed the Tata Steel on watch!
The reaction of the Indian market has not been very good either – the Reserve Bank hiked the Repo rate.
But one thing is certain – Tata Steel is now the fifth largest Steel manufacturer. With Arcelor Mittal and Tata-Corus, the Steel capacity is dominantly in the hands of the Indians!. The main consumers of the Steel – on the other hand – are the Chinese! So it is going to be an interesting battle of Business Interests between Indians and Chinese!
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