Steel deal postponed

SOFIA, Feb 1: The Indian owner of Bulgaria’s largest steelmaker Kremikovtzi said on Friday he would postpone its sale for at least two months, awaiting advice from a financial adviser about the best strategy for the loss-making plant.

India’s Global Steel Holdings of Pramod Mittal recently announced that it was close to selling its 71pc stake in the plant to a Ukrainian billionaire.

But Mittal told journalists on Friday: “We have no commitment with any person or investor for selling the stake of Global Steel in Kremikovtzi.”—AFP

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