Thyssenkrupp will still seek partners for its steel operations after abandoning ...
FRANKFURT - Thyssenkrupp will still seek partners for its steel operations after abandoning a European merger with India’s Tata Steel, Chief Executive Guido Kerkhoff said in comments published on Sunday.
He has since agreed on a way forward with labor unions for his new strategy, which foresees 6,000 job cuts, about 4% of the Thyssenkrupp workforce. The blueprint will go to a supervisory board vote on May 21. “But with the current position of the European Commission, I don’t see the possibility of bigger mergers. As a result, we will remain the majority shareholder.”
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