 "Thyssenkrupp CEO confident board will agree to Tata Steel deal")
Thyssenkrupp Chief Executive Heinrich Hiesinger is convinced he can win over labour representatives to back a planned merger of its European steel operations with those of Tata Steel.
"I am confident that we will reach a favourable ultimate solution with the employee representatives that will also be backed by the entire Supervisory Board," Hiesinger told reporters on Wednesday after the plans were unveiled.
Labour representatives hold half of the 20 seats on the group's supervisory board.
The group's works council has been fiercely opposed to the plans and only earlier this week signalled a willingness to consider the move if a range of conditions, including far-reaching guarantees to preserve jobs and plants, are met.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app