HELSINKI Oct 10 Stainless steel maker Outokumpu
was always ready to sell a mill in Italy as part of
plans to buy ThyssenKrupp's Inoxum unit, its chief
executive told news agency Startel on Wednesday, denying it was
an unplanned move.
Outokumpu said on Tuesday that it was committed to sell the
mill in Terni, Italy - considered one of the most advanced steel
mills in Europe - to gain regulatory approval for the deal.
The European Commission had deemed Outokumpu's previous plan
to sell Swedish operations as insufficient.
"We had naturally prepared ourselves for all the
alternatives quite carefully," Chief Executive Mika Seitovirta
was quoted as saying. "By no means we did miscalculate the terms
of the deal."
Some investors, however, fear the Terni divestment was an
unexpected move that may water down the deal's
The company's shares have been falling since the company
announced its plan to sell it, and were down 3.4 percent on
Wednesday, extending their 2 percent fall a day earlier.
(Reporting By Jussi Rosendahl; Editing by Hans-Juergen Peters)