U.S. Steel accuses Arcelor of deceit in PHS privatization

U.S. Steel claims that its European competitor Arcelor received confidential information on Polish steel concern PHS while conducting its due diligence and consequently decided not to place a privatization offer for PHS. Furthermore, the Americans claim that the European giant will be in a privileged position thanks to the analyses and will have easier access to the market. Since the beginning of the privatization process, representatives of the Polish steel sector have predicted that Arcelor was keener on seizing the domestic market than expanding its activities in Poland. "It might use the privatization process for other purposes, as the company received detailed information about the market, clients, prices and costs. It plans to enter Poland by using the geographical proximity of its plants to the market. We were afraid of that," said deputy president of U.S. Steel, John H. Goodish. Arcelor would not comment on the reports. (Puls Biznesu, pp. 1, 4) M.M.