Thyssenkrupp abandons plans to merge with Tata Steel

|About: thyssenkrupp AG (TYEKF)|By:, SA News Editor

Germany based Thyssenkrupp (OTCPK:TYEKF +22.9%) said it had abandoned plans to merge its steel business in Europe with the Tata Group, because of expected resistance from the EU antitrust regulators

Having shelved the merger plans and ruled out offering more concessions to Brussels in order to get a green light, Thyssenkrupp said it was now aiming for its elevators business listing.

Thyssenkrupp surged the most on record while Tata closed down 6% in Mumbai.

Previously: Merger of ThyssenKrupp, Tata Steel at risk of being blocked - FT (May 6)

Previously: Thyssenkrupp, Tata on collision course with Europe over JV - Reuters (March 7)

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