May 14, 2019 / 1:27 PM / 2 months ago

Thyssenkrupp would pursue steel consolidation if there are options

FILE PHOTO: Guido Kerkhoff, CEO of steelmaker Thyssenkrupp AG, gestures during the annual shareholders meeting in Bochum, Germany, February 1, 2019. REUTERS/Wolfgang Rattay/File Photo

FRANKFURT (Reuters) - Thyssenkrupp will seek other partners for its steel business or explore strategic ways to develop it after a deal to merge the unit with Tata Steel’s European division failed, its chief executive said.

“If there are opportunities, we are willing to pursue them. If not, we continue and we’ll find an appropriate set up in Steel Europe,” Guido Kerkhoff told analysts on Tuesday.

Thyssenkrupp called off the transaction last week after it became apparent that the transaction would be blocked by the European Commission.

Reporting by Christoph Steitz, editing by Thomas Escritt

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