Sunday , October 2 2022

The European Commission gives Liberty House a pre-purchase of Arceloro – CT24 – Czech Television



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"We did not tell you the details," the Prime Minister admitted. The European Commission assesses whether the intended procurement is in line with EU competition rules. The sale of steel works is also the result of the Commission's earlier decision, according to which ArcelorMittal, Indian billionaire Lakshmi Mittal, must dispose of Ostrava's steel producers and several other companies to gain a dominant position in the European market after the Italian steel mill Ilva.

However, the Czech government is not concerned about competition, and is particularly concerned about the British House of Liberty, which intends to invest significantly less investment than Babis and trade unions need.

Czech Prime Minister: The buyer's investment does not satisfy us

"The plans of the buyer to invest in depreciation – only 30 million euros (less than 780 million kronor) a year – really do not satisfy us," the prime minister in Brussels said. In the next decade, an appropriate investment would be around 750 million euros (about 19.5 billion kronor).

"It's busy to invest," Babis said. From the current Liberty House approach to acquisition, he says, "he was not totally excited" because the company does not deal with the consolidation of ironworks and other necessary things.

Babysh on Friday's Vestagers and her team informed that the Czech government is "worrying" about the sale. He recalled that the current owner took over a high dividend from the company instead of investing money in the company. "They are experiencing our concern," the prime minister said after a meeting in the European Commission.

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