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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 CEST
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

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Financials ($)
Sales 2018 76 512 M
EBIT 2018 7 000 M
Net income 2018 5 014 M
Debt 2018 7 540 M
Yield 2018 0,85%
P/E ratio 2018 6,95
P/E ratio 2019 7,33
EV / Sales 2018 0,53x
EV / Sales 2019 0,50x
Capitalization 33 217 M
Chart ARCELORMITTAL
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ArcelorMittal Technical Analysis Chart | MT | LU1598757687 | 4-Traders
Technical analysis trends ARCELORMITTAL
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 40,4 $
Spread / Average Target 24%
EPS Revisions
Managers
NameTitle
Lakshmi Niwas Mittal Chairman & Chief Executive Officer
Aditya Mittal President & Chief Financial Officer
Brian E. Aranha CTO, Executive VP, Head-Research & Development
Michel Wurth Non-Independent Non-Executive Director
Vanisha Mittal Bhatia Non-Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
ARCELORMITTAL3.28%33 103
POSCO--.--%28 895
NUCOR5.14%21 265
NIPPON STEEL & SUMITOMO METAL CORP-24.54%19 368
FOSUN INTERNATIONAL LIMITED-4.14%18 102
THYSSENKRUPP-3.70%16 853