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IG Metall union opposes potential Liberty Steel takeover of Thyssenkrupp's steel unit

FILE PHOTO: A steel worker of ThyssenKrupp stands amid sparks of raw iron coming from a blast furnace at a ThyssenKrupp steel factory in Duisburg, western Germany, January 30, 2020. REUTERS/Wolfgang Rattay

DUESSELDORF (Reuters) - The German IG Metall union rejects a potential takeover of Thyssenkrupp's TKAG.DE steel unit by Liberty Steel Group as it could lead to job losses and a breakup of the German company, its North Rhine-Westphalian regional leader told Reuters.

“This is exactly what we warned about,” Knut Giesler said. “Politicians must act now.”

The privately-held Liberty Steel Group is set to make a bid for Thyssenkrupp’s ailing steel unit as soon as Friday, a source close to the process told Reuters on Thursday.

Reporting by Tom Kaeckenhoff, writing by Kirsti Knolle; editing by Riham Alkousaa

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