Thyssenkrupp employees will not support Tata JV at any price

Thyssenkrupp employees will not support Tata JV at any price

Labour leaders, who hold half the seats on Thyssenkrupp's supervisory board, will not support a planned joint venture with Tata Steel if concessions in ongoing antitrust proceedings go too far, a union representative said.

FILE PHOTO: A steel worker of Germany's industrial conglomerate ThyssenKrupp AG takes a sample
FILE PHOTO: A steel worker of Germany's industrial conglomerate ThyssenKrupp AG takes a sample of raw iron from a blast furnace at Germany's largest steel factory in Duisburg, Germany, January 28, 2019. REUTERS/Wolfgang Rattay/File Photo

DUESSELDORF, Germany: Labour leaders, who hold half the seats on Thyssenkrupp's supervisory board, will not support a planned joint venture with Tata Steel if concessions in ongoing antitrust proceedings go too far, a union representative said.

"We won't support a merger at any price," Markus Grolms, vice chairman of Thyssenkrupp's supervisory board and secretary at IG Metall, Germany's biggest labor union, told Reuters.

(Reporting by Tom Kaeckenhoff; Writing by Christoph Steitz; Editing by Tassilo Hummel)

Source: Reuters

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