ArcelorMittal plans to raise $3bn to help reduce debt – Gulf Times
Reuters/Brussels ArcelorMittal, the worlds largest steelmaker, launched plans yesterday for a $3bn share issue to help reduce debt and cut costs, having been hit by a plunge in steel prices which it blamed on a surge in cheap exports from China. ArcelorMittals share price has dropped 60% in the past 12 months, cutting the groups market…