The Milan tribunal’s ruling on ArcelorMittal’s right to withdraw from the acquisition of former Italian steelmaker Ilva has been postponed from 27 November to 20 December, Kallanish learns from sources close to the matter.
This move aims to give the government and ArcelorMittal Italia more time to carry on negotiations and reach a deal on the future of former Ilva’s plants.
ArcelorMittal Italia and the government have reopened negotiations to create a new industrial plan for Ilva (see Kallanish 25 November). In the meantime, Prime Minister Giuseppe Conte announced that the company will maintain normal operations at the plants and continuity of production until 20 December.
Minister of Economic Development Stefano Patuanelli told local press the government is discussing an intervention to guarantee the future of Ilva through state-funded subsidiary Invitalia.