October 17, 2019 / 3:23 PM / 2 months ago

Kone bid for Thyssenkrupp elevator unit below expectations: Handelsblatt

FILE PHOTO: A logo of Thyssenkrupp AG is pictured at the company's headquarters in Essen, Germany, November 21, 2018. REUTERS/Thilo Schmuelgen/File Photo

BERLIN (Reuters) - Finland’s Kone (KNEBV.HE) has submitted a bid for the elevator division of German industrial group Thyssenkrupp (TKAG.DE) that is 1 to 2 billion euros below those by private equity suitors, business daily Handelsblatt reported on Thursday.

Kone’s offer of about 15 billion euros is surprisingly low, the newspaper said, citing company and industry sources.

Reporting by Thomas Seythal; Editing by Tom Sims

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