Arcelor unions to vote for merger with Severstal

Russian Itar-Tass has reported that an association of shareholders from Arcelor labour collectives said on 27 June that they would vote for a merger with Russia’s Severstal on 30 June. They have only 2% of Arcelor stock, but this statement is very important because it is supported by trade unions of EU member countries that host Arcelor plants. The AASA association of employee shareholders of Arcelor said it still opposes Mittal Steel’s takeover offer and will not tender its shares.
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