Ilva faces closure threat as Italy freezes merger talks with ArcelorMittal

Italian steelmaker Ilva could be shut down if a regional court accepts a complaint lodged by two senior politicians in the country, Carlo Calenda, Italy’s minister of economic development, has said.

Michele Emiliano, the governor of the southern Italian region of Puglia, and Rinaldo Melucci, the mayor of Taranto, where Ilva’s largest steel plant is located, have appealed the Italian government’s approval of the environmental plan put forward by ArcelorMittal in its prospective joint takeover of Ilva. Ilva has previously been accused by the EU of causing serious health and environmental problems in the Taranto area, but the AM Investco investment consortium led by ArcelorMittal, whose bid for Ilva was accepted by the Italian government earlier this year, has pledged more than €2 billion ($2.37 billion) in environmental clean-up funds. In response to the appeal, Calenda announced a freeze on negotiations between AM Investco...

Published

Lee Allen

November 30, 2017

19:43 GMT

London