Moscow Times 31 October 2012
Severstal is interested in buying French steel producer Florange, a subsidiary of ArcelorMittal, according to unnamed sources cited by French newspaper Les Echos, Interfax reported Tuesday.
Talks began two weeks ago, and a representative of Severstal has already visited Lorraine to study the plant, one of the sources said.
Two other investors are considering buying Florange, the paper said. But a source close to Severstal told Interfax that Les Echos’ information is largely based on rumors and speculation.