on Thursday said a final decision on merging its European business with German major Thyssenkrupp
is yet to be taken, as the “strategic discussions” are still continuing.
Both firms have been in discussion for a merger
of their steel businesses for almost over a year. The clarification has come in the wake of reports saying Thyssenkrupp
and Tata Steel
may sign a deal this month.
Meanwhile, Germany’s economy minister has urged Thyssenkrupp
to seek an agreement with its workers over plans to merge the group’s European steel operations with those of Tata Steel.
A JV with Tata Steel
is the preferred option of Thyssenkrupp
Chief Executive Officer Heinrich Hiesinger to restructure the group’s steel business, despite resistance from labour representatives, who fear thousands of job cuts.
UK has received confirmation from the pensions regulator that it has approved a regulated apportionment arrangement in respect of BSPS,” it had said.
The pact, signed by Tata Steel
with the trustee of the BSPS, will pave way for the Indian steel major’s merger
would create the second-largest steelmaker in Europe.