July 24, 2018 / 8:27 PM / 23 days ago

Italy reviews Arcelormittal deal for Ilva, may annul it -statement

ROME, July 24 (Reuters) - The Italian government is opening a formal review of ArcelorMittal’s planned takeover of the Ilva steel company and might annul the accord over alleged irregularities, Industry Minister Luigi Di Maio said on Tuesday.

Steel giant ArcelorMittal agreed last year to buy Ilva, which is in state-supervised special administration, and had been due to take over the business on July 1, but the newly installed government delayed the handover.

Di Maio’s office said in a statement the review would take 30 days. “We have an obligation to verify the facts following important, critical issues that have emerged,” it said. (Reporting by Crispian Balmer Editing by Mark Heinrich)

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