Liberty Steel set to bid for Thyssenkrupp steel unit: source

FRANKFURT (Reuters) - Privately-held Liberty Steel is set to make a bid for the ailing steel unit of Germany's Thyssenkrupp, a source close to the process told Reuters on Thursday. The move was first reported by German magazine Spiegel.

Reuters October 16, 2020 00:05:09 IST
Liberty Steel set to bid for Thyssenkrupp steel unit: source

Liberty Steel set to bid for Thyssenkrupp steel unit source

FRANKFURT (Reuters) - Privately-held Liberty Steel is set to make a bid for the ailing steel unit of Germany's Thyssenkrupp, a source close to the process told Reuters on Thursday.

The move was first reported by German magazine Spiegel. Liberty Steel was not immediately available to comment and Thyssenkrupp declined comment.

Thyssenkrupp, whose steel unit likely made an operating loss of about 1 billion euros ($1.2 billion) last year, is also exploring tie-ups with India's Tata Steel, Germany's Salzgitter and Sweden's SSAB, sources have told Reuters.

(Reporting by Christopher Steitz, writing by Emma Thomasson, editing by Chris Reese)

This story has not been edited by Firstpost staff and is generated by auto-feed.

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