FILE PHOTO: A logo of Thyssenkrupp AG is pictured at the company's headquarters in Essen, Germany, November 21, 2018. REUTERS/Thilo Schmuelgen
No final decision has been made and Kone could still decide to submit an offer for the unit on its own, the people said. Due to its large overlap with ET, a bid by Kone is likely to raise antitrust issues and would require substantial remedies to get approval, the sources said, adding that teaming up with private equity players would be a way to sidestep concerns.
He said Thyssenkrupp was stronger than Kone in North America, while Kone had a better position in Asia. “In this combination we’d be faster and could tackle digital challenges more efficiently.”
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