October 2, 2018 / 6:37 AM / a year ago

Thyssenkrupp might exit German benchmark index after split - WAZ

FILE PHOTO: A logo of ThyssenKrupp AG is pictured outside the ThyssenKrupp headquarters in Essen, November 23, 2017. REUTERS/Thilo Schmuelgen/File Photo

FRANKFURT (Reuters) - Shares in Thyssenkrupp (TKAG.DE) might drop out of Germany's blue-chip DAX index .GDAXI following a planned corporate split announced last week, its chief executive told a paper.

“The DAX is not an end in itself,” Guido Kerkhoff told Westdeutsche Allgemeine Zeitung (WAZ), according to its Tuesday edition. “We are building two strong companies that will be better able to develop than Thyssenkrupp in its current form.”

Last week Thyssenkrupp said it would spin off its elevators, car parts and plant engineering units into a separate listed entity named Thyssenkrupp Industrials, while keeping steel and materials-related activities.

Reporting by Christoph Steitz, editing by Louise Heavens

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