Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

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

ARCELORMITTAL (MT)
Mes dernières consult.
Most popular
  Report  
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

ArcelorMittal : EU antitrust regulators to investigate ArcelorMittal-Ilva deal

share with twitter share with LinkedIn share with facebook
share via e-mail
0
11/08/2017 | 07:20pm CET
FILE PHOTO: A red-hot steel plate passes through a press at the ArcelorMittal steel plant in Ghent

BRUSSELS (Reuters) - 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

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on ARCELORMITTAL
02/19ARCELORMITTAL : furthers its work with startups through its partnership with Plu..
AQ
02/19ARCELORMITTAL : Among the two bidders for essar steel
AQ
02/18ARCELORMITTAL : Announces Publication of Its 2017 Annual Report
AQ
02/18ARCELORMITTAL : Publishes Its Annual Report 2017 on Form 20-F
AQ
02/18ARCELORMITTAL : India Private Limited Submits Offer for Essar Steel India Limite..
AQ
02/17ARCELORMITTAL : lost $38.9 million in U.S., won't give out profit-sharing bonuse..
AQ
02/17ARCELORMITTAL : mulling 600 MW solar farm in Karnataka
AQ
02/16ARCELORMITTAL : announces the publication of its 2017 annual report
GL
02/16ARCELORMITTAL : PENALTY FOR COLLUSION - ArcellorMittal fine to be staggered
AQ
02/16ARCELORMITTAL : publishes its Annual Report 2017 on Form 20-F
GL
More news
News from SeekingAlpha
02/19China to retaliate against U.S. metal tariffs 
02/18THE NEST EGG PORTFOLIO : BinckBank Is Doing Just Fine With Its 6% Dividend Yield 
02/16Commerce Department recommends major tariffs on steel and aluminum 
02/13Steel sector moving as Trump calls for tariffs to fix 'decimated' industry 
02/12BLOOMBERG : ArcelorMittal, Russia's VTB competing for India's Essar Steel 
Financials ($)
Sales 2018 72 469 M
EBIT 2018 6 068 M
Net income 2018 4 063 M
Debt 2018 8 060 M
Yield 2018 1,08%
P/E ratio 2018 9,22
P/E ratio 2019 9,79
EV / Sales 2018 0,61x
EV / Sales 2019 0,58x
Capitalization 36 500 M
Chart ARCELORMITTAL
Duration : Period :
ArcelorMittal Technical Analysis Chart | MT | LU1598757687 | 4-Traders
Technical analysis trends ARCELORMITTAL
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 36,5 $
Spread / Average Target 2,3%
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
David George Clarke Vice President-Technology & Strategy
Michel Wurth Non-Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
ARCELORMITTAL4.08%36 500
POSCO--.--%29 854
NIPPON STEEL & SUMITOMO METAL CORP-12.07%22 778
NUCOR2.53%20 725
FOSUN INTERNATIONAL LIMITED-2.42%18 632
THYSSENKRUPP-5.88%17 792