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4-Traders Homepage  >  Equities  >  Euronext Amsterdam  >  ArcelorMittal    MT   LU1598757687

ARCELORMITTAL (MT)
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ArcelorMittal : EU antitrust regulators to investigate ArcelorMittal-Ilva deal

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11/08/2017 | 07:20pm CET
FILE PHOTO: A red-hot steel plate passes through a press at the ArcelorMittal steel plant in Ghent

EU antitrust regulators will investigate whether ArcelorMittal's proposed purchase of Italian steel plant Ilva will lead to price hikes, a move likely to force the steelmaker to offer more concessions to address competition concerns.

ArcelorMittal, the world's largest steelmaker, reached a 1.8-billion-euro ($2.1 billion) deal to acquire Europe's biggest capacity steel plant in June. The loss-making plant in Taranto in Italy's south is grappling with a serious pollution issue.

The European Commission opened a full-scale investigation on Wednesday, voicing worries that the merger might reduce competition in some flat carbon steel products and result in higher prices, especially for customers in southern Europe.

"Those European industries need access to steel at competitive prices to compete in global markets," European Competition Commissioner Margrethe Vestager said in a statement.

The Italian government said there was a lot of material for the Commission to deal with.

"We are absolutely confident that this second phase of the investigation will be concluded quickly," Deputy Industry Minister Teresa Bellanova, who is following the Ilva dossier, told Reuters.

ArcelorMittal, based in Luxembourg, said it would work constructively with the EU enforcer to gain approval for the deal "in a timely manner".

The Commission said concessions offered by ArcelorMittal last month failed to address its concerns, without providing details about the proposals. It will rule by March 23 whether to clear or block the deal.

Italian authorities are keen to keep the deal to save more than 10,000 jobs ahead of general elections due early next year.

($1 = 0.8628 euros)

(Additional reporting by Massimiliano Di Giorgio in Milan; editing by Francesco Guarascio and Mark Heinrich)

By Foo Yun Chee

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Financials ($)
Sales 2017 67 035 M
EBIT 2017 4 995 M
Net income 2017 3 764 M
Debt 2017 10 088 M
Yield 2017 1,02%
P/E ratio 2017 7,90
P/E ratio 2018 9,24
EV / Sales 2017 0,59x
EV / Sales 2018 0,55x
Capitalization 29 421 M
Chart ARCELORMITTAL
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ArcelorMittal Technical Analysis Chart | MT | LU1598757687 | 4-Traders
Technical analysis trends ARCELORMITTAL
Short TermMid-TermLong Term
TrendsBearishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 31,9 $
Spread / Average Target 11%
EPS Revisions
Managers
NameTitle
Lakshmi Niwas Mittal Chairman & Chief Executive Officer
Aditya Mittal Chief Financial Officer & CEO-ArcelorMittal Europe
Brian E. Aranha Chief Technology Officer, EVP & Head-Strategy
Michel Wurth Non-Independent Non-Executive Director
Vanisha Mittal Bhatia Non-Independent Non-Executive Director
Sector and Competitors
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