Steel Merger with a big question

The merger between India's Tata Steel and Germany's Thyssenkrupp will create Europe's second-largest steel maker, behind only ArcelorMittal. 

It comes against the backdrop of consolidation in the steel sector in Europe - an industry that has increasingly been plagued by low prices and overcapacity - partially because of excess supply from Chinese steelmakers. 

In the heydays of the European steel industry, mergers and acquisitions were a way for companies to make money and expand their operations. 

Indeed, that was one of the main reasons why Tata Steel bought British firm Corus back in 2007 - a story covered at the time - and one that marked the Indian group's foray into the international markets. 

What a difference a decade makes. In the last 10 years, the commodity boom has petered out and, up until recently, shown no signs of a revival.

Source:  BBC Online

Our Question.... Is it wise in the long run for a basic industry like steel to be controlled by sources outside the UK?   Use Readers Letters for your comments.