Thyssenkrupp abandons Tata merger plans, cuts 6,000 jobs

FRANKFURT AM MAIN: German industrial conglomerate Thyssenkrupp said Friday it was scrapping merger plans with Indian steel giant Tata and would slash 6,000 jobs worldwide in a structural shakeup.

Having shelved the plans and ruled out offering more concessions to Brussels in order to get a green light, Thyssenkrupp said it was now aiming for a stock market listing of its elevators business as part of a restructuring. Kerkhoff declined to give any details on the planned IPO of its elevators unit:"as to the right price and the right time, we can't say anything".

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Exclusive: Thyssenkrupp to consider partial listing of elevators business, abandons splitThyssenkrupp is considering a carve-out or listing of its elevators business after abandoning plans to split itself up with a cross-shareholding ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Occidental: Skipping shareholder merger vote will make its Anadarko bid superior to Chevron'sOccidental Petroleum Corp said on Monday that its latest bid to take over Anadarko Petroleum Corp was designed to make sure Anadarko's board ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Australia regulator blocks massive TPG-Vodafone mergerSYDNEY: Australian regulators on Wednesday (May 8) blocked the multi-billion-dollar merger between Vodafone Hutchison Australia and TPG Telecom, ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »