Thyssenkrupp, Tata Held Talks on Combining European Steel Operations -- Sources
April 01 2016 - 7:51AM
Dow Jones News
By Eyk Henning
FRANKFURT--German engineering conglomerate ThyssenKrupp AG
(TKA.XE) and India's Tata Steel Ltd. (500470.BY) have held talks on
combining their European steel operations as overcapacity continues
to weigh on prices and profits, people familiar with the matter
said.
The companies have been holding high-level talks for over a
year, the people said, adding it was unclear whether Thyssenkrupp's
preferred structure is a tie-up of both companies' steel assets in
a joint venture. It also wasn't immediately clear where the talks
now stand. There is no guarantee a deal will be reached, one of the
people said, adding an agreement is unlikely in the short term.
German daily Rheinische Post reported earlier that both
companies were in advanced talks on combining their steel
operations.
--Hendrik Varnholt and Alex MacDonald contributed to this
article.
Write to Eyk Henning at eyk.henning@wsj.com
(END) Dow Jones Newswires
April 01, 2016 07:36 ET (11:36 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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