Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

Thyssenkrupp mulls state aid for steel division -Manager Magazin

Published 23/04/2021, 10:48
Updated 23/04/2021, 10:50
© Reuters. FILE PHOTO: A steel worker of Germany's industrial conglomerate ThyssenKrupp AG takes a sample of raw iron from a blast furnace at Europe's largest steel factory in Duisburg

BERLIN (Reuters) - Thyssenkrupp (DE:TKAG) is mulling applying for state aid to strengthen its steel unit financially ahead of a spin-off, Manager Magazin reported on Friday.

The company has held preliminary talks with North Rhine-Westphalia's regional government on possible aid, but it will actively pursue the matter after the federal elections in September, the magazine added, without citing sources.

Thyssenkrupp declined to comment.

After terminating sale talks with Liberty, Thyssenkrupp is now focusing on cutting costs at its steel unit, Europe's second-largest, to catch up with rivals, hoping to eventually list the business or merge it with a peer.

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.