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Deals

No near-term development with regard to Thyssenkrupp-Kloeckner CEO

FILE PHOTO: The logo of German steelmaker ThyssenKrupp AG is seen on an escalator at Frankfurt's main railways station in Frankfurt, Germany, January 23, 2020. REUTERS/Wolfgang Rattay

FRANKFURT (Reuters) - Metals trader Kloeckner & Co KCOGn.DE does not expect any developments with regard to a potential tie-up with larger peer Thyssenkrupp TKAG.DE in the near-term, its chief executive said on Tuesday.

“Of course you cannot rule out anything in the future, who knows what will happen in five or ten years,” Gisbert Ruehl, who will be succeeded by former Thyssenkrupp CEO Guido Kerkhoff next year, told journalists after presenting third-quarter results.

Speculation about a tie-up between the two companies has flared up regularly in recent years even though no deal has materialised.

Reporting by Christoph Steitz; Editing by Michelle Adair

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