ArcelorMittal Will Not Reverse Ilva Decision-Source

The New York Times Finance 1 month ago

ROME — Steelmaker ArcelorMittal will not reverse its decision to withdraw from a deal to buy Italian steelmaker Ilva regardless of government efforts to salvage the accord, a source close to the matter said on Tuesday.

ArcelorMittal announced on Monday it was pulling out of the deal, accusing the Italian government of reneging on a promise to give it immunity from prosecution over a heavily polluting plant in the southern city of Taranto.

Italy's industry minister said earlier the government might draw up a new norm clarifying the legal protection already in place for the steel firm, but the source said this would not suffice. "Yesterday's letter was final, not the beginning of a negotiation," the source said.

(Reporting by Crispian Balmer; Editing by Chris Reese)


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Reuters › Finance › 1 month ago
Steelmaker ArcelorMittal will not reverse its decision to withdraw from a deal to buy Italian steelmaker Ilva regardless of government efforts to salvage the accord, a source close to the matter said on Tuesday.
Reuters › Finance › 1 month ago
The Italian government will summon representatives of ArcelorMittal for a meeting following the group's decision to pull out of a contract to take over struggling Italian steel maker Ilva, a government source said on Monday.
Reuters › Finance › 3 weeks ago
Italian police are searching ArcelorMittal's offices in Milan and the southern city of Taranto in an investigation into the troubled Ilva steel plant, which the company wants to hand back to the government, ArcelorMittal said in a statement.
One America News Network › Finance › 1 month ago
By Giuseppe Fonte ROME (Reuters) - Italy's ruling coalition has decided to scrap a legal guarantee it had previously granted to steelmaker ArcelorMittal over its Ilva plant, a senior
One America News Network › Finance › 1 month ago
ROME (Reuters) - Italian Industry Minister Stefano Patuanelli said on Tuesday he would meet managers from ArcelorMittal over its struggling Ilva plant in the southern city of Taranto, amid political
Reuters › 1 month ago
ArcelorMittal said on Monday it was withdrawing from a deal to buy Italy's struggling steel firm Ilva after the government removed previously agreed guarantees of legal immunity over its operations.
The New York Times › Finance › 1 month ago
ArcelorMittal said on Monday it was withdrawing from a deal to buy Italy's struggling steel firm Ilva after the government removed previously agreed guarantees of legal immunity over its operations.
The New York Times › Finance › 3 weeks ago
ArcelorMittal 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.
One America News Network › Finance › 3 weeks ago
ROME (Reuters) - ArcelorMittal 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
One America News Network › Finance › 3 weeks ago
ROME (Reuters) - Italian police are searching ArcelorMittal offices in Milan and the southern city of Taranto in an investigation into the troubled Ilva steel plant, which the company wants to
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