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Tata-Corus deal to push steel cos to consolidate: Jindal
Reacting to the Tata-Corus deal, Sajjan Jindal, Vice Chairman and Managing Director of JSW Steel feels that even though Tata Steel's move may not have a direct impact on the Indian steel industry, it will encourage other Indian steel companies to bring about the required consolidation in the industry, reports CNBC-TV18.
He also says that even though Corus is an expensive buy, it will give Tata Steel a broader perspective in the steel industry.
"Corus, especially the UK manufacturing facility has a very high cost, but the point is, this will give them (Tata Steel) a good market share and this will give them a broader perspective in the steel industry," he said.
He also mentioned, "So, all in all, though it seems to be a high cost buy as of today, so was Arcelor when Mittal took over Arcelor. But eventually this is all a number game and it's ultimately the holding capacity, the capacity that you create and the one umbrella, that matters," said Sajjan Jindal.
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