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* Finance miniter tells investors no plans to nationalise
* Hollande to meet ArcelorMittal's chief executive after
By Jean-Baptiste Vey
PARIS, Nov 27 French finance minister Pierre
Moscovici denied on Tuesday that the government was
contemplating mass nationalisations of its troubled industries,
seeking to reassure investors after another minister told steel
magnate Lakshmi Mittal on Monday that his company was no longer
welcome in France.
Moscovici said after meeting U.S. and British investors that
the Socialist government did not plan to nationalise any large
firms permanently, despite a proposal to temporarily take over
an ArcelorMittal steelmaking site in northeast France
to save two blast furnaces from closure.
"This is not about returning to an older way of thinking,
carrying out massive, general, permanent nationalisations,"
Moscovici told reporters after a meeting that included delegates
from Blackrock, JP Morgan and Morgan Stanley
"What is under consideration is a temporary mechanism," he
said in reference to the ArcelorMittal site at Florange.
His comments came a day after Industry Minister Arnaud
Montebourg told a newspaper in an interview: "We no longer want
Mittal in France because they haven't respected France."
Last week Montebourg, one of the most left-wing ministers in
the government, had already said the state could temporarily
nationalise the company's Florange site while the government
tries to find a buyer.
President Francois Hollande is due to meet Mittal at his
Elysee Palace presidential office later on Tuesday in an attempt
to mend ties with the billionaire, whose firm employs some
20,000 people in France across over 100 sites.
Hollande's government has been locked for months in a
dispute with ArcelorMittal over the fate of the two blast
furnaces at Florange, which Mittal says he will close down if no
buyer is willing to take them over by Dec. 1.
Montebourg has accused Mittal of breaking a 2006 commitment
to keep the blast furnaces running and not considering offers
from potential buyers to take over the site.
Sources close to Mittal say that no commitment to keep the
blast furnaces running was ever made and that the firm is
seeking to sell only the blast furnaces, not the whole site.
Talks between Hollande and Mittal at 1645 GMT were expected
to focus on a solution to save some 600 jobs at the Florange
site, which has been taken to symbolise France's alleged
(Writing by Nick Vinocur; Editing by Greg Mahlich)