French government says has a buyer for ArcelorMittal steel plant
Reuters : Paris, Thu Nov 29 2012, 09:39 hrs
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SUCCESSION PLAN
* France has raised the prospect of the site being taken temporarily into state hands if no sale agreement is reached
* The French government aims to have a zero cost for public finances and was mulling using existing state stakes in companies to fund the deal
* ArcelorMittal has so far said that it wants to sell only the idled furnaces and not the entire site
* The company has said that it plans to shut down the furnaces, which it says are no longer viable
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