BUSINESS Thyssenkrupp says expects EU to 'block' Tata merger plan


Thyssenkrupp says expects EU to 'block' Tata merger plan


18:16, May 10, 2019

German industrial conglomerate Thyssenkrupp said Friday it expected the European Commission to "block" its plan to merge its European steel business with Indian steel giant Tata.

"Thyssenkrupp and Tata Steel expect that the planned joint venture of their European steel activities will not go ahead due to the Commission's continuing concerns," the German company said in a statement.

Cover image: Germany's ThyssenKrupp CEO Heinrich Hiesinger and Chairman of Tata Steel Natarajan Chandrasekaran pose at a joint news conference after signing a final agreement on Saturday to establish a long-expected steel joint venture, in Brussels, Belgium July 2, 2018. (File photos: VCG)

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