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Thyssenkrupp says Tata Steel deal may come in September
September 11, 2017 / 12:04 PM / 3 months ago

Thyssenkrupp says Tata Steel deal may come in September

FRANKFURT/DUESSELDORF, Sept 11 (Reuters) - Thyssenkrupp could reach an agreement this month to merge its European steel business with that of Tata Steel, a spokesman for the group said, adding talks were constructive and had entered the final stretch.

Earlier, German monthly Manager Magazin reported that Thyssenkrupp’s supervisory board could agree to a combination either on Sept. 23 or 24, citing people involved in the negotiations. It said there had been a break-through in the lengthy negotiations.

A spokesman for Thyssenkrupp’s works council confirmed that a supervisory board meeting initially scheduled for Sept. 12 had been pushed back to Sept. 23 or 24.

Shares in Thyssenkrupp rose on the news and were 2.5 percent higher by 1157 GMT. (Reporting by Georgina Prodhan and Tom Kaeckenhoff; Writing by Christoph Steitz; Editing by Maria Sheahan)

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