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ArcelorMittal's Ilva bid stalled, but EU steel to benefit either way

Reuters  |  LONDON 

By Maytaal Angel and Massimiliano Di GiorgioLONDON (Reuters) - ArcelorMittal's bid to buy Italian steel major Ilva may have hit serious snags, but the European Union's steel sector is set to benefit in the short term whether or not there is a deal.Italy's Puglia and Taranto regions last week lodged a court appeal against the Italian government's approval of ArcelorMittal's environmental plan for its takeover of Ilva. If successful, it could scupper the deal and lead to the temporary shutdown of Europe's largest steel plant.Meanwhile, EU antitrust authorities have opened a full inquiry which ...

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First Published: Tue, December 05 2017. 20:28 IST