ThyssenKrupp will keep Europe unit

Germany's ThyssenKrupp is holding on to its Steel Europe business, a company spokesman said on Saturday, responding to speculation a sale could help its current restructuring efforts. "We've always said we want to keep the steel business," the spokesman said. German magazine Focus, citing no sources, reported ThyssenKrupp Chief Executive Heinrich Hiesinger had told an internal leadership meeting it was wrong to believe a sale of the European business could support the company. According to the report, he added a divestment would not yield a reasonable price in the current environment. Hiesinger in August dismissed any speculation on a sale of Steel Europe as "nonsense".