DUESSELDORF (GERMANY): ThyssenKrupp said on Sunday it still saw scope for agreement with European antitrust regulators on a planned joint venture with Tata Steel despite a Financial Times report that Brussels was likely to block the deal. Tata Steel and ThyssenKrupp have proposed combining their steel operations in Europe to form the region's second-biggest steelmaker. A ThyssenKrupp spokesman said: "The Competition Commission has taken the reworked commitments proposed by ThyssenKrupp and Tata Steel as an opportunity to conduct another market test." "There are still a number of ways to adjust our commitments without compromising the commercial logic of the joint venture." Late last month, the European Commission extended the deadline for reviewing the planned joint venture by seven working days until June 17.

Source: Mint May 05, 2019 09:22 UTC