PARIS (Reuters) -The French government will continue to oppose plans to nationalise the French sites of steelmaker ArcelorMittal, whose workers face the risk of job cuts due to tough market conditions
France Continues to Oppose ArcelorMittal Nationalisation
PARIS (Reuters) -The French government will continue to oppose plans to nationalise the French sites of steelmaker ArcelorMittal, whose workers face the risk of job cuts due to tough market conditions in the industry, it said on Friday.
Finance Minister Roland Lescure reiterated in a statement the government's aim to avoid any nationalisation after the French lower house of parliament backed a motion proposing to nationalise the sites.
The motion, which has been consistently opposed by the government and will now go to the French Senate, was put forward by the far-left France Unbowed (La France Insoumise) party.
It was adopted late on Thursday in the lower house of parliament by 127 votes in favour versus 41 against, although it is likely to be blocked by the Senate, which is dominated by right-wing political parties opposed to the nationalisation.
"I take note of the vote in parliament looking to nationalise ArcelorMittal," Lescure said.
"We will continue to oppose the nationalisation of ArcelorMittal during the rest of the legislative process, while at the same time working to bring forward solutions for the company and its staff," he said.
The European steel industry has been impacted by market uncertainty over ongoing tariff talks between the United States and Europe.
(Reporting by Sudip Kar-Gupta; Editing by Christian Schmollinger)
