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ArcelorMittal will not reverse its Ilva deal decision, says report

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

Reuters  |  Rome 

ArcelorMittal
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.

Steelmaker 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.

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.

First Published: Wed, November 06 2019. 00:29 IST
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