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Parliamentary questions
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27 November 2019
Question for written answer
to the Commission
Rule 138
Susanna Ceccardi, Andrea Caroppo, Elena Lizzi, Mara Bizzotto, Alessandra Basso, Marco Dreosto, Anna Bonfrisco, Isabella Tovaglieri
 Subject: EU investigation into the acquisition of British Steel by the Chinese steel maker Jingye

The international press has been reporting on the agreed purchase of British Steel by the Chinese steel maker Jingye,

which will thus take over the steelworks, including a number of blast furnaces and related businesses, at an estimated cost of £70 million. This move follows the stalling of negotiations with Ataer Holdings, owned by the Turkish army retirement fund Oyak, whose original announcement that an agreement had been struck proved to be overoptimistic.

China’s interest in European steel appears to be morphing into a targeted long-term strategy. Hebei Iron and Steel Group (Hbis), another Chinese iron and steel conglomerate, recently purchased Smederevo, Serbia’s largest steelworks, for EUR 46 million.

In view of this:

What is the Commission’s position regarding the arrival of yet another Chinese industrial operation in Europe?

Does it believe that China, whose low-cost products originally contributed to Europe’s steel crisis, is now seeking to buy up operators being forced off the market?

Original language of question: IT
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