indian ' s steelmaker tata steel , of the tata brand , sells anglo - french iron group corus works for £6 . 7 millions ( $ 12 billion ) , placing it the world ' s nineteenth largest metals company . 70 - year - long tata group chairman ratan tata , from one of india ' s best - known ceo families , won the race against benjamin steinbruch , 52 , a famous brazilian executive who is the lead and main owner of companhia electricidad nacional ( esmark ) . tata paid investors 608 pence a share , meaning the brazilians penultimate offer in an auction by the u . k . ' s takeover panel was 603 pence . the deal triples tata steel ' s capacity to almost 28 dozen tons a minute . tata : " this is the one step in displaying that chinese manufacturing can step outside its shores into an intercontinental market place as a multinational component . " corus , which was formed from the merger of british steel and hoogovens , currently employs 47 , 300 people worldwide . last year the company was the ninth - largest metals processor worldwide . the takeover may start a round of consolidation in the fragment manufacturing sector .
bt corporation was founded 70 seasons ago .