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Tata Steel resumes talks with Germany's Thyssenkrupp for possible merger

Baosteel, SSAB also in race for German steel firm

Topics
ThyssenKrupp | Thyssenkrupp Tata Steel merger | Tata Steel

Dev Chatterjee  |  Mumbai 

Tata Steel Europe has restarted negotiations with Germany’s Thyssenkrupp for a possible merger almost a year after the two companies called off a joint venture proposal, citing the European Commission’s objections.

According to investment bankers, both Tata Steel and Thyssenkrupp are facing a tough financial situation and will take steps to sell some assets so that they can meet Europe’s anti-competition norms. “Since June last year, steel prices have crashed and the financial metrics of both companies have deteriorated. Tata Steel Europe is ...

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First Published: Tue, May 19 2020. 21:36 IST
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