Overview
- The National Assembly approved the nationalisation proposal in a second reading on June 11 by 106 votes to 49, and the text has been transmitted to the Senate for further review.
- The drafted law names ArcelorMittal France for nationalisation and creates an administrative commission to set a state purchase price capped by the average real share value from October 1, 2024 to September 30, 2025.
- Parliament split along clear lines, with all left partiesVoting for the measure, the government coalition voting against, the RN abstaining, and the UDR allied party opposing it, while the Senate and the government state they will not back the text.
- ArcelorMittal called nationalisation a 'false solution' and warned that separating French operations from the group could hurt site viability; unions and left leaders held protests in Paris supporting the bill and pressing for guarantees on jobs and investment.
- Reporters and lawmakers put the cost in the low billions of euros, often cited as about €3–4 billion, raising questions about fiscal risk, the practicality of splitting French assets, and how the move would affect planned decarbonisation investments such as the Dunkirk electric furnace, so the next pivot is whether the Senate tables the bill or the government cedes the final say.