July 8, 2019 / 12:11 PM / a year ago

Thyssenkrupp says it still wants to float its elevators unit

FILE PHOTO: Thyssenkrupp's logo is seen close to the elevator test tower in Rottweil, Germany, September 25, 2017. REUTERS/Michaela Rehle/File Photo

BERLIN (Reuters) - Thyssenkrupp (TKAG.DE) on Monday said it was sticking to plans to float its elevator business after a media report said the conglomerate was planning to start talks in autumn on selling the unit.

Thyssenkrupp shares traded 2.7% higher at 1140 GMT, with a trader pointing to a Bloomberg report which said the company was planning to hold sale talks.

While there has been frequent speculation that Finland’s Kone (KNEBV.HE) might bid for the division, a Thyssenkrupp spokesman said that an initial public offering was still the plan, echoing what the company’s CEO Guido Kerkhoff said in June.

Reporting by Tassilo Hummel; Editing by Michelle Martin

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