Tatas outrun Mittal on Highveld acquisition

After an intense battle of nerves, the world’s cheapest steel-maker Tata seems to have outrun the world’s biggest steel-maker Mittal in the race to acquire South Africa-based Highveld Vanadium and Steel.

After an intense battle of nerves, the world’s cheapest steel-maker Tata seems to have outrun the world’s biggest steel-maker Mittal in the race to acquire South Africa-based Highveld Vanadium and Steel.

Mittal Steel is understood to be close to shelving plans to acquire Highveld after its takeover plans failed to impress that country’s competitions tribunal.

Lakshmi Niwas Mittal’s well-drawn up plans to acquire Highveld to become the biggest steel-producer in the country did not go down well with the tribunal, which brought ‘‘forth some procedural difficulties,’’informed sources said here.

‘‘This leaves Tata steel as the lone and major contender, albeit with another lesser-known South African firm in the fray, to acquire Highveld. Since the very beginning, the Tatas have been silently but meticulously making efforts to take on the Mittals,’’ sources said.

Bengaluru family feared dead in Kurnool bus fire

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A family of four from Andhra Pradesh, residing in Bengaluru, are suspected to be among the 20 people reported dead in a fire that gutted a Hyderabad-Bengaluru bus near Kurnool in the early hours of Friday.

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