Moravia Steel, Třinecké železárny will not submit binding bid for ArcelorMittal Ostrava

Neither Moravia Steel nor its subsidiary Třinecké železárny will submit a binding offer to purchase the rival steelworks ArcelorMittal Ostrava.

A Třinecké železárny spokesperson said on Wednesday that the decision had been made after “careful analysis and consideration of all aspects” of a potential deal, without providing details.

ArcelorMittal, the world’s largest steelmaker, is looking to sell its Czech unit and some other assets by the end of the year in order win EU antitrust clearance to acquire troubled Italian peer Ilva.