French Government Reaffirms Opposition to ArcelorMittal Nationalization Despite Parliamentary Vote

Government Maintains Stance Against Nationalization

The French government has firmly reiterated its opposition to the nationalization of ArcelorMittal's French sites, despite a recent parliamentary motion in favor of the measure. This stance was reaffirmed on Friday, November 28, 2025, following a vote in the lower house of parliament.

Finance Minister Roland Lescure stated that the government's objective remains to avoid any nationalization. He characterized the parliamentary initiative as a 'populist response to a structural problem' and an 'opportunistic and unnatural' alignment, emphasizing that it would not address the underlying issues of unfair competition in the French steel industry. Lescure further indicated that the government would continue to oppose the nationalization throughout the legislative process, while simultaneously working on 'structural answers' for the company and its workforce.

Parliamentary Motion Driven by Job Cut Concerns

The motion to nationalize ArcelorMittal's French operations was adopted late on Thursday, November 27, 2025, in the National Assembly, the lower house of the French parliament. The vote saw 127 members in favor and 41 against. The bill was championed by the far-left La France Insoumise (LFI) party, which garnered support from a united left-wing bloc including Socialists, Greens, and Communists.

LFI's push for nationalization stems from concerns over announced job cuts by the steelmaker and aims to ensure ecological transition, industrial sovereignty, and the protection of an estimated 80,000 jobs. The party estimated the cost of nationalization at approximately €3 billion. ArcelorMittal had previously announced plans to cut around 270 roles as part of Europe-wide cost-saving measures, with an earlier announcement in May 2025 detailing 600 job cuts across several French sites, including Dunkirk and Florange.

ArcelorMittal's Position and Legislative Outlook

Industry Minister Sébastien Martin echoed the government's concerns, warning that the proposed law 'would weaken employment rather than protect it'. He highlighted that the primary threat to the steel sector comes from a surplus of Asian steel imports and emphasized that solutions should be sought at the European level, particularly through protective measures from Brussels.

ArcelorMittal itself has responded to the parliamentary vote, with a company spokesperson stating that nationalization 'would in no way resolve the challenges facing the steel industry in France and Europe'. The company stressed that its French sites remain resilient due to their integration within a strong and profitable global group, which enables continued investment. The motion will now proceed to the Senate, where it is widely expected to be blocked by the conservative majority, which opposes nationalization.