Arcelor has decided not to make a bid for PHS, the state-run Polish steel company. However, Arcelor states it is interest in the Polish market and its belief that it has an important medium- and long-term growth potential. Arcelor considers that, for a company focused on value creation, the economic performance of the Polish steel industry (PHS) is not compatible with the privatisation process as envisaged by the Polish authorities. Arcelor aimed to integrate PHS step by step into the European structures of the world’s largest steel producer, in particular by opening outlets for high-quality steels. However, Arcelor feels it has not had the opportunity to convince the Polish authorities of the rationale of its approach, hence the decision not to submit an offer. However, Arcelor intends to further develop its industrial activities in Poland.