Stricter EU quotas and tariffs on steel imports have lifted market sentiment, aiding Thyssenkrupp’s ongoing talks to sell a majority stake in its Steel Europe unit to India’s Jindal Steel International.
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Stricter upcoming quotas and tariffs on steel imports into Europe have boosted sentiment on beaten steel stocks, the CEO of Thyssenkrupp said, adding this was also reflected in current talks to sell the firm’s steel division to India’s Jindal Steel.
“There is a clear positive sentiment here,” Miguel Lopez, who currently seeks to sell a majority in Thyssenkrupp Steel Europe to Jindal Steel International, told analysts after presenting first-quarter results on Thursday.
He said the improved situation, which he said had materialised over the past four months, would be part of the “conversations with our colleagues from Jindal, no doubt about that”.
“There is a clear positive sentiment here,” Miguel Lopez, who currently seeks to sell a majority in Thyssenkrupp Steel Europe to Jindal Steel International, told analysts after presenting first-quarter results on Thursday.
He said the improved situation, which he said had materialised over the past four months, would be part of the “conversations with our colleagues from Jindal, no doubt about that”.
(Edited by : Vivek Dubey)
