ArcelorMittal to challenge legitimacy of VTB-led bid for Essar Steel in court

ArcelorMittal to challenge legitimacy of VTB-led bid for Essar Steel in court

Smoke rises from the ArcelorMittal steel mill complex in Cleveland, Ohio, U.S., on Friday, June 24, 2016. Photographer: Luke Sharrett

Billionaire Lakshmi Mittal’s ArcelorMittal will on Wednesday challenge in court the legitimacy of a bid for Essar Steel India Ltd. by a group led by VTB Capital, intensifying the battle for the biggest industry asset yet to be sold under a new bankruptcy law.

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