| Mittal urges ease of ownership rules in China |
BEIJING, Sept. 20 -- Lakshmi Mittal, president of global steel giant Arcelor Mittal, said in an interview published yesterday that he has urged the Chinese Government to loosen its controls over foreign ownership of steel firms in the country.
"I'd hope some day the Chinese Government would allow this (foreign ownership) to happen, perhaps in the next two years," the Indian billionaire told the Financial Times.
Mittal, one of the world's five richest men, said in June that his firm had its sights set on acquisitions in emerging markets such as China and India.
He was speaking after his company, Mittal Steel, won a five-month battle to acquire European counterpart Arcelor. The merger created the world's largest steelmaker.
Mittal reiterated in the Financial Times that he thought Asia offered some of the most exciting opportunities for expansion.
China's booming economy has made the country one of the world's largest producers and consumers of steel.
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