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Mittal's Stake Plummets

Mittal's Stake Plummets

Queens Park Rangers Co-Owner Lakshmi Mittal has seen a vast decline in his value in recent times in direct correlation to declines in steel.

With all the excitement of the transfer window passing the R`s by they are left to contemplate their own misfortune as their wealthiest owner has fallen on hard times.

Lakshmi Mittal`s stake in his company Arcelor Mittal, according to contactjournal.com was worth a reported £45bn in June 2008 but since then the economic downturn has prompted his value to decline rapidly to the modern day value of £10bn.

This means his stake has plummeted a massive £35bn as even Britain`s wealthiest man is beginning to feel the pinch.

Mittal currently has co-ownership of Queens Park Rangers will fellow owners Bernie Ecclestone and Flavio Briatore. His presence at QPR is overseen by son-in-law Amit Bhatia who has built up a strong rapport with Rangers supporters in recent times.

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Writer:Boxer
Date:Monday February 2 2009
Time: 6:45PM

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Comments

0
Seems to hitting a lot of clubs .. Newcastle & Pompey and now you..
Chix
02/02/2009 20:11:00
0
Oh make no mistake about it, we're OK - we haven't even touched Mittal's funds yet - Flavio won't let us.
Boxer
03/02/2009 06:45:00
0
Oh dear. These billionaire boys are having it so rough at the moment. Imagine being downt ot your las (SHOCK! HORROR!) £10 billion. Oh the shame!
fifthcolumnblue
03/02/2009 19:06:00
0
Will someone get him some soup and a temporary shelter please?
Boxer
03/02/2009 19:33:00
0
perhaps we could have a whip round for him, he might have to cut back on the caviar?
Buzz Lightyear
04/02/2009 10:23:00
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