EC launches probe into Ilva takeover on concerns about flat steel costs

The European Commission (EC) has begun an in-depth investigation into the proposed acquisition of Italian steelmaker Ilva by the AM Investco joint venture, the European body said on Wednesday November 8.

AM Investco – which comprises global steelmaker ArcelorMittal and Italian re-roller Marcegaglia – agreed to purchase Ilva in May this year, subject to findings from the EU’s antitrust investigations, which are designed to prevent monopolies forming in European markets.

“The Commission has concerns that the merger may reduce competition for a number of flat carbon steel products....

Published

Lee Allen

November 08, 2017

19:52 GMT

London