Tata Steel says merger talks with Thyssenkurpp are still in progress
15 SEP 2017
India's Tata Steel [BOM:500470] has stated that its talks to merge its European operations with that of German steel company Thyssenkrupp [TKAG.DE] are still in progress, mint reported, citing a press statement from Tata Steel.
But a final decision on whether to proceed with the deal and a potential time frame for the transaction's close have not yet been determined.
It was recently reported by the German press that Thyssenkrupp has postponed a board meeting about its steel division's planned merger with the European operations of Indian rival Tata Steel amid disunity among shareholders over the deal.