ThyssenKrupp denies report on possible sale of automotive unit
BERLIN (Reuters) - German steelmaker ThyssenKrupp (TKAG.DE) has denied a magazine report that it is preparing to sell its automotive division.
Weekly magazine Focus said in an advance release of an article to be published in Monday's edition that ThyssenKrupp, struggling with billions of euros of debt and a loss-making Steel Americas business, had asked potential investors for indicative offers for its automotive operations.
"That's nonsense," a spokeswoman at the Essen-based company told Reuters on Sunday. "We want to develop the business further strategically."
Last year, ThyssenKrupp sold its Tailored Blanks unit, then market leader in laser-welded blanks for the automotive industry, to Chinese peer Wuhan Iron and Steel (600005.SS).
(Reporting by Matthias Inverardi; Writing by Andreas Cremer; Editing by Mark Potter)
- A former SAC Capital Advisors trader, set to go on trial next month on insider trading charges, wants to cite in court some 2012 testimony given by the hedge fund's founder Steven Cohen, claiming it rebuts the government's case.
SAN FRANCISCO - At Pinterest, the four-year-old online bulletin board service that is valued near $3.8 billion, some 70 percent of the users are female. But the company's board of directors is 100 percent male. | Video
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.