Production cutbacks have remained in place in the third quarter and this has helped to further reduce inventory levels worldwide.

It's true that I run a multi-national group but I have no interests in India. So please tell me, what should my identity be?

Hard work certainly goes a long way. These days a lot of people work hard, so you have to make sure you work even harder and really dedicate yourself to what you are doing and setting out to achieve.

I am very confident that we will be able to convince all the stakeholders - the shareholders, the governments and the employees, that this is in their best interests.

We do not believe in oversupplying the market. When you are a large company, you can afford to do it. When you are a small player, your flexibility gets reduced.

A strong player, which has the sufficient critical mass, can withhold pressure better and create a more stable environment that benefits shareholders as well as employees.

I have confidence that the government of Luxembourg will not make any decision that frustrates this transaction.