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ArcelorMittal to buy back 44 m shares

LUXEMBOURG: The ArcelorMittal Board of Directors has approved a new share buy-back programme for up to a maximum of 44 million shares. This is aimed at offsetting the issuance of 44 million ArcelorMittal shares that took place in connection with the ArcelorMittal merger on November 13.

This programme would be realised in a two-year time frame. It is the intention to use the repurchased shares either for supporting potential future corporate opportunities or for cancellation.

Further details on the new share buy-back programme will be disclosed later by ArcelorMittal, says a press release.

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