Ilva registration for ArcelorMittal may be questionable

The deadline for completing the sale of Ilva to ArcelorMittal may be delayed by a maximum of 90 days from the previous date set for early July.

ArcelorMittal is expected to take control of Ilva in early July, under an existing contract signed with the Italian authorities when the group's bid in Luxembourg was accepted. Political uncertainty in recent months, as well as the lack of a formal agreement between ArcelorMittal and local trade unions, could nevertheless support a postponement until the end of October.

This week, unions in Taranto called on the government to apply such a delay to allow time for further discussion of the deal. The main party of the new government, which took office in Italy in early June, has spoken openly in the past about the possibility of shutting down the steel mill in Taranto. In addition, there are still a number of problems in the world of work.

The postponement was also confirmed by Carlo Kalenda, former Minister of Economic Development, who was central to the signing of the contract with ArcelorMittal. He now strongly expresses his concern about the possible closure of the Taranto steel mill.

ArcelorMittal, meanwhile, continues to focus on closing the transaction in accordance with the original agreement. “Our discussions with Ilva's unions are ongoing and we hope to reach an agreement. We still intend to close the deal by the end of this month, ”says a company spokesman.