Thyssenkrupp leaves open possibility of keeping steel majority | Reuters

FRANKFURT Thyssenkrupp executives left open the possibility on Thursday that the German industrial group could keep the majority in any new entity formed by a merger of its European steel operations with those of a competitor.'The most important thing for us is that by a consolidation and by the underlying plan we can address the issues of overcapacity,' Chief Finance Officer Guido Kerkhoff told analysts on a conference call.'We have never stated consolidation, non-consolidation or discussed percentages and we don't do that today either.' He added that an initial public offering of the business without a merger would offer no solution to the underlying overcapacity issue. (Reporting by Georgina Prodhan)

Reuters November 24, 2016 19:46:59 IST
Thyssenkrupp leaves open possibility of keeping steel majority
| Reuters

Thyssenkrupp leaves open possibility of keeping steel majority
 Reuters

FRANKFURT Thyssenkrupp executives left open the possibility on Thursday that the German industrial group could keep the majority in any new entity formed by a merger of its European steel operations with those of a competitor."The most important thing for us is that by a consolidation and by the underlying plan we can address the issues of overcapacity," Chief Finance Officer Guido Kerkhoff told analysts on a conference call."We have never stated consolidation, non-consolidation or discussed percentages and we don't do that today either."

He added that an initial public offering of the business without a merger would offer no solution to the underlying overcapacity issue.

(Reporting by Georgina Prodhan)

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

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