ArcelorMittal is to write down the value of its European business by 3.25 billion euros.<br /><br />The world's biggest steelmaker said demand fell around eight percent in Europe this year and there was no sign of a quick recovery.<br /><br />It will write down the goodwill - the value of intangible assets like a brand rather than physical assets like machinery - of its European operations by 87 percent.<br /><br />...<br />http://www.euronews.net/
