ArcelorMittal considers buying Italian steelmaker Ilva

ArcelorMittal (MT) fell more than 5% today after reports said it among groups considering buying Italian steelmaker Ilva, depending on the cost of an environmental cleanup plan ordered by the government.

Any eventual offer could be hindered by the cost of the plan ordered by the government to reduce pollution levels around the Taranto plant, estimated to reach ~€3B ($4B).

Some analysts are skeptical that MT shareholders would back further investments following a recent purchase of a ThyssenKrupp steel plant in the U.S.

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Comments (1)
  • marpy
    , contributor
    Comments (1788) | Send Message
    while the TK deal makes a lot of sense and should have MT shareholders smiling, I am not so sure that the IIva deal is such a good idea. In IIva you are dealing with a chronic money loosing plant in a country with a seriously screwed up government and a heavily socialist agenda. One thing for sure though is that nobody knows steal like Mittal and his management team as such I would expect that if they can not make it work, they will not do the deal. JMO
    11 Feb 2014, 09:50 AM Reply Like
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