Two companies are reportedly vying to buy the Dudelange ArcelorMittal steel site ArcelorMittal

Two companies are reportedly vying to buy the Dudelange ArcelorMittal steel site ArcelorMittal

Etienne Schneider revealed to parliamentary committee members that Germany's Salzgitter and one other firm were the lead parties.

The announcement comes after the steel giant offered to sell the Dudelange site in order to win the approval of the European competition commission for the purchase of Italian steel firm Ilva.

The compromise provoked anger and concern from unions and politicians alike, fearing any future owner would not invest appropriately in Dudelange.

Schneider was said to be happy that Salzgitter was interested since as a European group it operates along European standards. He reiterated his disapproval of the fact that European regulation on monopolies had forced the sale, saying that such rules no longer reflected the economic realities of the current globalised world.

To tackle the issues relating to this, Luxembourg, France and Germany will organise an intergovernmental conference in September to discuss a new European industrial strategy.