AlexeiMordashov of Severstal, the third-ranked Russian steelmaker, and a 40-year old man with enormous personal vanity, has been persuaded by some desperate, but clever, fellows in Luxembourg that, to watch his own sun going down, and exiting Russia, Mordashov should pay a ticket price of US$2.66 billion.
Mordashov has been announcing publicly since 2004 that he wishes to be the world's largest steelmaker, or at least the equal of Mittal and Arcelor.
Mordashov, Arcelor announced, is to be appointed the non-executive "president" of the Arcelor board of directors, and have the right to appoint six of 18 directors.
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