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Mittal upbeat

on China prospects

The head of Arcelor Mittal, the world's largest steelmaker, told he was optimistic Beijing would eventually give him the green light to take a majority stake in a steel supplier based in China.
"We would like to be long-term player in China and an actor in this consolidation (in the Chinese steel industry)," Arcelor Mittal Chief Executive Lakshmi Mittal said. 

"I am optimistic that eventually we will be permitted to play a part but (getting government approval for consolidation) is a prolonged process and you have to be patient." 

"We have to be able to demonstrate that we can bring value to the Chinese producers." 

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