ArcelorMittal repurchases €885.7M of shares in 5th buyback program

ArcelorMittal repurchased 34,080,049 shares worth €885.7 million by market close Dec. 28, as part of its previously announced 5th share buyback program, according to a Dec. 29 statement.

The shares acquired by the Luxembourg-headquartered steelmaker are intended to meet debt-for-equity obligations, reduce its share capital and meet obligations under employee share programs.