France's National Assembly passed legislation nationalizing ArcelorMittal France by 127-41 votes overnight November 27-28, 2025, though the conservative Senate is expected to reject the left-wing parliamentary initiative. ArcelorMittal denounced nationalization as failing to address structural European steel challenges including massive low-priced imports flooding markets, arguing that separating French assets from the integrated group would severely worsen competitive positions. The company emphasized €1.7 billion French investments over five years including €600 million Mardyck electrical steel facility, Europe's largest recent investment, though trade unions criticize chronic underinvestment & workforce reductions. Government ministers oppose nationalization, though political pressures from deindustrialized regions & union mobilization sustain debates.