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ArcelorMittal puts up US$280M to buy back 7 million shares

Luxembourg-based steelmaker ArcelorMittal intends to repurchase 7.0 million of its shares for an aggregate maximum amount of US$280.0 million.

The share buyback program will be open from March 13, 2018, to May 5, 2020.

The acquired shares will meet the company's obligations arising from share option programs to employees or management.