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Thyssenkrupp Considered Breakup Before Plumping For Tata JV

Before deciding on a joint venture the Thyssenkrupp executive board examined and worked out all the available options: A tie-up with a German partner, a spin-off, an IPO, the sale of the steel business and even a break-up of the entire company

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German industrial group Thyssenkrupp considered options including a breakup of the company before deciding to pursue a European steel joint venture with Tata Steel, it said on Wednesday.

"Before deciding on a joint venture the Thyssenkrupp executive board examined and worked out all the available options: A tie-up with a German partner, a spin-off, an IPO, the sale of the steel business and even a break-up of the entire company," it said on its website.

"The joint venture with Tata is the only option that gives our steel business a viable long-term future."

Thyssenkrupp and Tata Steel said earlier they had signed a memorandum of understanding to combine their European steel businesses in a 50-50 joint venture.

(Reuters)


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