Thyssenkrupp expects joint venture with Tata Steel to fail
The planned steel merger with Tata is off the table, said several familiar with the plans of Reuters news agency on Friday. This is no longer expected.
Instead, CEO Guido Kerkhoff is considering a holding structure with the ability to spin off or float the elevator business. Thyssenkrupp declined to comment.
According to cnbctv18, Thyssenkrupp is expecting a separate joint venture to combine its European Steel business with Tata Steel to be abandoned after failing to win antitrust approval, one of the sources said.