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Merger talks continue with Thyssenkrupp: Tata Steel

Both firms have been in discussion for a merger of their steel businesses for almost over a year

Reuters & PTI 

Green shoots as Tata Steel's UK pension drama ends

on Thursday said a final decision on merging its European business with German major is yet to be taken, as the “strategic discussions” are still continuing.

Both firms have been in discussion for a of their steel businesses for almost over a year. The clarification has come in the wake of reports saying and may sign a deal this month.

Meanwhile, Germany’s economy minister has urged to seek an agreement with its workers over plans to merge the group’s European steel operations with those of A JV with is the preferred option of Chief Executive Officer Heinrich Hiesinger to restructure the group’s steel business, despite resistance from labour representatives, who fear thousands of job cuts.

On September 11, had announced that it has concluded a new agreement under which its UK business stands separated from the £15 billion (BSPS).

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 with the trustee of the BSPS, will pave way for the Indian steel major’s with The would create the second-largest steelmaker in Europe.

First Published: Fri, September 15 2017. 00:41 IST