Moneycontrol
Get App
Last Updated : Apr 03, 2019 03:43 PM IST | Source: Reuters

Tata Steel says supports logic of joint venture with ThyssenKrupp

Tata Steel and ThyssenKrupp had proposed to combine their steel operations Europe, which would form the region's second-biggest steelmaker.

India's Tata Steel Ltd said on April 3 that it supports the logic behind a joint venture with ThyssenKrupp, days after the companies submitted proposals to the European Commission to get a nod to the proposed partnership.

"We continue to engage in a constructive dialogue with the European Commission and believe our proposals address their concerns, and still very much support the industrial logic of the joint venture," said a Tata Steel spokesman in an emailed statement to Reuters.

Tata Steel and ThyssenKrupp had proposed to combine their steel operations Europe, which would form the region's second-biggest steelmaker. However, the deal has not been approved because of concerns about its impact on competition.

Subscribe to Moneycontrol Pro and gain access to curated markets data, trading recommendations, equity analysis, investment ideas, insights from market gurus and much more. Get Moneycontrol PRO for 1 year at price of 3 months at 289. Use code FREEDOM.
First Published on Apr 3, 2019 03:35 pm
Loading...
Sections
Follow us on
Available On
PCI DSS Compliant