According to Ovidiu Mesetescu, the Romanian privatisation minister, Usinor was never a serious rival.
ECONOMIST: Political donations
In 1986, Mer took over Usinor, the giant moneylosing steelmaker owned by the government.
FORBES: Sea change in France
By itself, Usinor is capable of producing 19m tonnes of such steel annually.
ECONOMIST: The steel industry
Most steel companies have low stockmarket valuations, even though they are profitable (Usinor and its partners have a combined market value of just euro7 billion).
Usinor took a large stake in Brazil's steel market .
ECONOMIST: Pay dirt
France's Usinor also warned this week of imminent losses.
ECONOMIST: European steel
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