RE:RE:RE:What's the idea behind the reverse split???
The Mittal family owns 40% of the shares and so I do not see them knowingly doing anything to negatively affect share price. They also did a big capital raise with the warrent issue not to long ago and debit is now at an acceptable level. They did just recently buy a large Italian steel plant (12 million ton capacity) for 2 billion but I think that they can handle this without a capital raise. with this purchase, they are now even more so the largest producer in Europe. The plant is in need of work and a turn around but MT is no stranger to buying distressed opperations and turning them around and this plant will give them considerable additional flexability in Europe.