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Tata Steel Says Supports Logic Of Joint Venture With Thyssenkrupp

"We continue to engage in a constructive dialogue with the European Commission and believe our proposals address their concerns, and still very much support the industrial logic of the joint venture"

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 India's Tata Steel Ltd said on Wednesday that it supports the logic behind a joint venture with ThyssenKrupp, days after the companies submitted proposals to the European Commission to get a nod to the proposed partnership.

"We continue to engage in a constructive dialogue with the European Commission and believe our proposals address their concerns, and still very much support the industrial logic of the joint venture," said a Tata Steel spokesman in an emailed statement to Reuters.

Tata Steel and ThyssenKrupp had proposed to combine their steel operations Europe, which would form the region's second-biggest steelmaker. However, the deal has not been approved because of concerns about its impact on competition.

(Reuters)


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