The world's cheapest steel-maker Tata seems to have beaten the world's biggest steel-maker Mittal in the race to acquire South Africa-based Highveld Vanadium and Steel. Mittal Steel is understood to be close to shelving plans to buy Highveld after its takeover plans failed to impress South Africa's competitions tribunal.Lakshmi Niwas Mittal's plans to acquire Highveld to become the biggest steel-producer in South Africa did not go down well with the tribunal, which brought "forth some procedural difficulties," informed sources saidhere.The Indian-born steel baron is already under fire from the tribunal for allegedly indulging in unfair trade practices and is reportedly keen not to soil his image any more. Hence, he is actively considering pulling out of the race."This leaves Tata Steel as the lone and major contender, albeit with another lesser-known South African firm in the fray, to acquire Highveld. Since the very beginning, the Tatas have been silently but meticulously making efforts to take on the Mittals," sources said."The issue is likely to dominate the Tata board meeting in Mumbai tomorrow," they said and pointed out that a major decision on the matter by the board could not be ruled out," Tata Steel sources said.However, Tata executives were unavailable for comment prior to the board meeting as a formal announcement was expected tomorrow. Problems have been mounting for Mittal Steel as the national union of metal workers of South Africa (NUMSA) has thoroughly opposed the "unfair dismisal" of their leaders and chairperson in Mittal Steel.
