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.

In the past twenty years, we have lived through several cycles and we have always managed to buy under good terms and conditions at the right time. This has enabled us to build a solid group that is now the world number one.

We are beginning to see the benefits of globalconsolidation.

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

It is true that we are interested in scale but there are very sound reasons for this.

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.

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.