Thyssenkrupp AG (TKAG.DE)
23 Feb 2018
Wed, Feb 14 2018
FRANKFURT Germany's Thyssenkrupp joined rivals in reporting a strong recovery of its steel business, just weeks before it plans to ink a deal to merge the unit with the European operations of India's Tata Steel .
* Shares down as much as 2 pct on disappointing free cash flow
FRANKFURT, Feb 14 German industrial and technology group Thyssenkrupp on Wednesday reported a 35 percent increase in first-quarter operating profit, helped by a recovery at its steel unit, which it is currently trying to merge with Tata Steel.
* To invest in blast furnace at a cost of roughly 75 mln pounds
* Approval key step in creating Thyssenkrupp-Tata Steel JV (Recasts, adds official confirmation, Thyssenkrupp comment)
* Deutsche Telekom had 1.2 bln euro T-Systems writedown in Q3 (Adds background)
DUESSELDORF, Germany, Feb 1 German industrial group Thyssenkrupp said on Thursday it had ended its business relationship with T-Systems, in a setback to Deutsche Telekom's IT services arm as it embarks on a restructuring.
* Shares hit 4-month high on hopes for change (Adds Cevian comment, updates shares)
BOCHUM/FRANKFURT, Jan 19 Thyssenkrupp will adapt its strategy following a planned steel tie-up with India's Tata Steel, its chief executive said on Friday, responding to investor criticism that the elevators-to-submarines group is too unwieldy.
* Investors urge group to slim down via spin-offs, listings (Adds shareholder comments)