Arcelor Mittal bid to buy Laiwu nixed
By Wan Zhihong | China Daily | Updated: 2007-03-13 07:00
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Workers lay the foundation for steel furnaces at the Jingtang Iron and Steel Project in Caofeidian, North China's Hebei Province. The project, launched jointly by Shougang Corp and Tangshan Iron and Steel Group, kicked off yesterday. Wang Jingguang |
The National Development and Reform Commission (NDRC) has rejected the deal, said China Business Journal, citing unnamed sources.
The report said two objections were put forward by the NDRC, concerning price and technology transfer.
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