ArcelorMittal is reportedly exploring a jv spin off

ArcelorMittal eyes stainless steel JV. Steelmaker ArcelorMittal is reportedly exploring a joint venture spin off of its stainless steel business, worth an estimated $3 billion, according to a report in the Financial Times on Monday. A joint venture would suggest it's scaling back after expansion in the past decade through various acquisitions, such as 26.9 billion euro purchase of Arcelor of Luxembourg in 2006. ArcelorMittal has reportedly discussed a possible stainless steel JV with Posco of South Korea. Another JV candidate could be Outokumpu of Finland, the Financial Times said.