Union slams French govt over threat to LN Mittal

The head of France's largest employers' union on Thursday slammed as "blackmail" a threat by the state to take over a plant owned by steel tycoon Lakshmi Mittal.

French president Francois Hollande has himself dangled the threat in talks with the billionaire, over the row on the Florange plant in the eastern Lorraine region. France has threatened to take over the plant if ArcelorMittal goes ahead with plans to close two blast furnaces on the site that the company regards as uneconomic.

Laurence Parisot, the head of the influential Medef employers' union, said the proposed move by Industrial Renewal Minister Arnaud Montebourg, was "simply scandalous."

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