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ArcelorMittal: progress in takeover of Ilva's steel mill?

(CercleFinance.com) - According to the Metal Bulletin, ArcelorMittal has gathered together strong support in its plan to take over Ilva's "mega-steel mill," in southern Italy, which currently having financial difficulties.

The specialist publication understands that the Cassa Depositi e Prestiti (CDP), the Italian Caisse des Dépôts, has joined the consortium of investors, which is led by the steelmaker AM Investco.

Previously, CDP belonged to an alliance that rivalled AM Investco.

"ArcelorMittal therefore appears to have found a select partner to replace Marcegaglia (an Italian metallurgical and industrial group, ed), whose presence in the winning consortium bothered Brussels. European antitrust authorities will give their verdict by 4 April," Aurel BGC analysts said this morning.

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