Arcelor recently announced plans to buy Severstal

Arcelor, valued by Mittal at 22bn euros ($28.3bn; �15bn), says there are areas in the plan it wants to discuss.

"It's a good move for shareholders and a step in the right direction," said Julien Quistrebert, of Richelieu Finance, which owns Arcelor shares.

Netherlands-based Mittal is the world's largest steel firm.

Arcelor says a meeting should take place in the next few days, and Mittal said it looked forward to holding constructive talks.

'Shareholders decide'

Mittal's offer for Arcelor is competing against an alternative plan unveiled last week by Arcelor in which it plans to buy Russian firm Severstal in an attempt to thwart Mittal's advances.

Some Arcelor shareholders have complained they had little say in the deal with Severstal, which would give the Russian group's majority-owner and chairman, Alexei Mordashov, 32.2% of the enlarged group.

If the proposed merger between Arcelor and Severstal goes ahead it would create the world's biggest steelmaker with a turnover of 46bn euros.

"The most important thing is for Arcelor to let its shareholders decide what should happen, not the other way round," said Olivier de Guerre, fund manager at Paris-based Phi Trust Finance, which owns Arcelor shares.

Last week the European Commission gave the provisional go-ahead for Mittal Steel to buy French rival Arcelor in a hostile acquisition.

The Commission said the proposed deal would not cause competition concerns in European Economic Area (EEA) markets.