London/Frankfurt: Thyssenkrupp’s chief executive is pushing for a deal to fold its steel operations into a joint venture with India’s Tata Steel as early as September, after two years of talks, people aware of the matter told Reuters. One person familiar with the matter said much still hinged on final clearance from the regulator for the Tata pensions deal and that both sides were unlikely to make any announcement before then. Tata Steel and Thyssenkrupp declined to comment. The Tata pensions deal alone could take until early next year to implement even though it is due to be cleared shortly, pensions officials say. However, Martin Hunter, principal at consultants Punter Southall, said that to avoid delay, Tata and Thyssenkrupp could announce the deal but make a final tie-up contingent on the end shape of the Tata pension deal.

Source: Mint July 26, 2017 13:36 UTC