Overview
- The National Assembly’s finance committee approved the LFI bill on Nov. 19, sending it to a full Assembly debate on Nov. 27.
- Left-wing parties supported the measure, right and centrist groups opposed it, and the National Rally abstained while promoting a state ‘golden share’ veto as an alternative.
- LFI pegs the takeover at about €3 billion, though one institute estimates €4.5–€5 billion, and the text outlines funding via an added tobacco tax and higher corporate tax.
- ArcelorMittal France’s chief said nationalization would solve nothing and would not address the company’s structural challenges.
- Supporters cite roughly 600 job cuts in France and the need to preserve steel capacity while financing faster emissions cuts to meet coming EU rules.