Unions say ArcelorMittal Ostrava divestment to take place by start of 2019

The Czech Republic’s biggest steelmaker, Arcelor Mittal Ostrava, will have to be in the hands of a new owner by January 1, 2019, under conditions to be set down by the European Commission.

Unions at the steel plant made the announcement following talks with prime minister Andrej Babiš and members of the government who are visiting the city. The divestment is part of a package which the multinational steelmaker has offered in a bid to win Commission support for its takeover of Italian steelmaker Ilva.

An announcement from Brussels competition authorities on those conditions is due to be made officially at the end of May.