Spy’s in the Steel Industry

An article in the Telegraph based on a report from “Le Monde” goes on to tell us that the French Secret Services intervened directly to try and scupper Mittal’s takeover of Arcelor. The DST (La Direction de la Survaillance du Territoire) was created to combat “espionage by alien powers”.

It is rather doubtful that Laksmi Mittal qualified, as an “alien power involved in espionage”, but whilst such an incident would cause an outcry in the UK or USA, the incident seems to have raised little concern in France. In the end the business and negotiating skills of Mittal combined with the wishes of the shareholders “won the day” for Mittal, and the dubious tactics of Arcelor’s board and a number of French government politicians failed.

Anyway, I must go, I have to check my telephone for bugs, you can’t be too careful.