France's Finance Committee approved a controversial bill to nationalize ArcelorMittal France for €3 billion ($3.15 billion), advancing toward November 27 plenary debate despite fierce political divisions. Left-wing proponents argue state control prevents facility closures, accelerates decarbonization, counters Chinese competition, while opponents contend ownership changes cannot remedy structural overcapacity, subsidized imports, falling demand plaguing European steel. ArcelorMittal CEO Alain Le Grix de la Salle emphasized the company invested €1.7 billion ($1.79 billion) over five years, warning separation from the global network would worsen French operations' competitive position.