ArcelorMittal Drops Takeover of Italy JV After Government Ruling

ArcelorMittal SA withdrew from its planned acquisition of a joint venture with CLN-Coils Lamiere Nastri SpA following Italian government restrictions on the deal. The Italian government's action opened the path for a domestic competitor to assume control of the joint venture. ArcelorMittal and CLN-Coils Lamiere Nastri SpA is a struggling carpart manufacturer.

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