Lakshmi Mittal may sacrifice a controlling stake in the company merged with Arcelor for the sake of the merger itself It seems that for the head of Mittal Steel Co., registered in the Netherlands, a native of India, Lakshmi Mittal, buying his closest competitor, Luxembourg-based Arcelor, has become a matter of principle, and he is even ready to make some concessions to attract Arcelor shareholders. According to Britain's Financial Times, Mr.