By Marc Bisbal Arias

ArcelorMittal (MT.AE) said Thursday that it will propose to shareholders that it changes the currency of its share capital to U.S. dollars from euros.

The steelmaker said the change would simplify the company's reporting process, given that it prepares its consolidated financial information in dollars and its parent uses it as its functional currency.

ArcelorMittal will hold a vote on the proposal at its extraordinary general meeting on May 16.

Write to Marc Bisbal Arias at marc.bisbalarias@dowjones.com

(END) Dow Jones Newswires

April 12, 2018 01:34 ET (05:34 GMT)

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