ArcelorMittal's South African Unit May Receive Local Bid

ArcelorMittal's troubled South African division could potentially receive a bid from a consortium of local steel processors. Bloomberg posted on X that the group is seeking assistance from the Industrial Development Corp to facilitate the acquisition. This move comes as the unit faces significant challenges in the current market environment. The potential bid underscores the interest of local entities in revitalizing the struggling steel sector in South Africa. Further developments are anticipated as discussions progress.