KIEV, Oct. 4 ??“ Arcelor, the world??™s second largest steelmaker, received permission from Ukraine??™s anti-cartel authority Tuesday to acquire majority stake in a local company that may be used as a vehicle to bid for Kryvorizhstal.

Arcelor may now acquire more than 50% stake in Industrial Group, a company that was created by Industrial Union of Donbas (IUD), a major steel producer, especially to bid for Kryvorizhstal, according to the Anti-Monopoly Committee.