ThyssenKrupp, Tata Steel Merger In Doubt -FT

--The European Commission looks "increasingly likely" to block the pending steel merger between Germany's ThyssenKrupp and India's Tata Steel unless the two companies offer greater concessions, the Financial Times reports, citing unnamed sources.

--European antitrust authorities are concerned the joint venture to create Europe's second-largest steel producer would result in less choice and higher prices for steel in the car industry and electrical products as well as for coated steel, according to the FT.

--While more concessions are possible, further disposals on the part of ThyssenKrupp could undermine the rationale for the deal, and Tata's labor unions have already threatened not to support it over existing concessions, the FT reports.

Full story: https://on.ft.com/2DPwfMZ

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(END) Dow Jones Newswires

May 06, 2019 02:31 ET (06:31 GMT)

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