Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Keep ThyssenKrupp whole, German minister urges

Published 18/07/2018, 10:20
Updated 18/07/2018, 10:30
© Reuters. FILE PHOTO: Sunflower outside of ThyssenKrupp AG headquarters in Essen

BERLIN (Reuters) - German Labour Minister Hubertus Heil said he was increasingly concerned about the situation at submarines-to-elevators conglomerate ThyssenKrupp (DE:TKAG) after it lost its top officials under pressure from shareholders to restructure.

"We are following the situation at ThyssenKrupp intensively and with growing concern," he told Reuters on Wednesday, urging managers to preserve the company as a whole and preserve jobs in Germany.

"All concerned should work together to strengthen ThyssenKrupp as a significant company in the German business world, thereby sparing jobs," he added.

© Reuters. FILE PHOTO: Sunflower outside of ThyssenKrupp AG headquarters in Essen

The company's chairman and chief executive both resigned this month following pressure from activist shareholders demanding a restructuring of the conglomerate. Potential bidders for parts of the company include Tata Steel (NS:TISC) and lift-maker Kone (HE:KNEBV).

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.