Industry sources guarded about prospective Evraz-Severstal tie-up
Dec 14, 2011 | 08:00 AM
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Industry observers are taking a guarded view of comments by Evraz group chairman Aleksandr Abramov that merging his company with fellow Russian steelmaker Severstal would be a “good idea”, ascribed in an interview in the UK’s Financial Times daily newspaper.
“I guess that [the idea of an Evraz/Severstal combination] would have several advantages,” the FT quoted Abramov as saying on December 13.
However, no serious discussions between the two parties have yet begun, Abramov also said.
A Severstal spokewoman declined to comment on Abramov’s comments, while an Evraz source claimed that the group chairman’s comments were only part of a larger interview.
Merging the two companies would result in a wide breadth of products in one....
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