France seeme to have softened after the global outburst on the way it handled the Mittal row. The
French Premier Bernard Ayrault on Friday (November 30), announced that the Florange furnace site held by the Arcelor Mittal plant would not be nationalised as earlier claimed by another minister of his cabinet.

Steel baron Lakshmi Narayan Mittal has bought the Arcellor in 2006. due to repeated loss the Mittals planned to close down the furnaces in Northeastern parts of the country. Nearly 20,000 people are employed by the company in France.

In reply to this decision the French  Industry Minister Arnaud Montebourg on Monday let out some humiliating statements while sending signals that the alleged property would be nationalised. Subsequently there was global criticism on the French government. Looks like the government has back tracked from its tough stand and assured that the extreme step would not be taken up after the steel baron has made some necessary amendments to his plans.

As per the the statements of the premier the Mittals had assured to shell out another 180 million Euros on the controversial furnace in the next five years. Hence looks like the steel baron had the last laugh in the arm-twisting incident. (Wishesh-AarKay)