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Thyssenkrupp says expects EU to block its Tata steel merger plan

"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

ThyssenKrupp — ThyssenKrupp AG headquarters in Essen, Germany Photo: Reuters

1 min read Last Updated : May 10 2019 | 3:45 PM IST

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.

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