ArcelorMittal , the world’s largest steel maker , raised its stake in the China Oriental Group to more than 73 percent, becoming the first foreign company to take control of a Chinese steel maker.

Arcelor raised its interest in China Oriental from 28.03 percent, according to the stock exchange filing, but no financial terms were released.

 The world's largest steel firm, ArcelorMittal , has seen quarterly profits jump thanks to high steel prices and demand from new markets.

Although Asia is still a major region where ArcelorMittal does not have a large presence, and they need to increase their exposure in this fast-growing region

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