Steelmaker Třinecké železárny makes bid for Arcelor Mittal Ostrava

Steelmaker Třinecké železárny has made a bid to buy its main rival Arcelor Mittal Ostrava. The news was confirmed by the spokeswoman of Třinecké železárny Petra Jurásková.

The idea of a merger between the country’s two biggest steelmakers has received strong support both from Prime Minister Andrej Babis and President Milos Zeman who said the companies should stay in Czech hands.

The Czech government is closely following ArcelorMittal Ostrava’s sale with the main concern to ensure the continuity of steel making and allied activities employing more than 7,000 in a region of relatively high unemployment.

It is not clear how many other bids have been made.