ArcelorMittal willing to re-commit to Ilva steel plant on three conditions: paper

This post was originally published on this site

https://i-invdn-com.akamaized.net/trkd-images/LYNXMPEFAH0HL_L.jpg

ROME (Reuters) – ArcelorMittal (AS:) is drafting a plan to re-commit to the 2018 deal, under which it bought the troubled Ilva steel plant in southern Italy, on three conditions, Il Messaggero daily reported on Monday.

After withdrawing from the contract, the world’s biggest steel maker is drafting a proposal for Italy’s government in which it will demand the reintroduction of legal immunity, the possibility to revise its industrial plan and the layoff of 5,000 workers.

Italian Prime Minister Giuseppe Conte has postponed a meeting with ArcelorMittal’s Lakshmi Mittal, due this week, hoping that a Milan court will already decide on an appeal filed by Rome last Friday, Il Messaggero said.

The report added that economy minister Roberto Gualtieri is examining the potential entrance of state lender Cassa Depositi e Prestiti in the shareholding of the Franco-Indian company that manages Ilva.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Add Comment