France is deeply upset with the Indian steel giant ArcelorMittal from past few days and is no longer interested to have the firm operating in their country.

Recently, Arnaud Montebourg has warned the owner of ArcelorMittal, Mr. Lakshmi Mittal that they are considering nationalization seriously. He has told Mr. Mittal that if company goes ahead on closing plans of two furnaces at Florange plant and continue other activities over the site, they will nationalize the plant.

ArcelorMittal is considering closing two of its furnaces at Florange site because it is finding it expensive to carry on with them. It has already asked government to find a new buyer for the same. But the government doesn't want to consider the two furnaces only and wants to buy the whole plant. They have already found a buyer.

However, the steel giant is disapproving of selling the whole plant. It has replied to government's recent warning with a much bigger threat. It said that if they are closing the whole plant at Florange, as much as 20,000 workers employed by it on the site will be rendered jobless.

"Montebourg's a good guy but when the public is watching he says offensive things. You can't say that about a company that employs 20,000 people in France", criticized a French finance Executive.