French media reported that French President Mr François Hollande will meet with Mr LN Mittal CEO of ArcelorMittal on Tuesday as a showdown over the company's French operations continues a day after a government minister criticized the steel magnate and threatened to nationalize the facility

ArcelorMittal has given the French government until Saturday to find a buyer for two blast furnaces it plans to shut down in Florange in the country's east. The closures would see 629 workers made redundant.

The company wants to maintain its other operations at the site but Montebourg says the Socialist government has two offers but only for the entire site.