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Salzgitter: No negotiations with Thyssenkrupp on steel

Reuters - DUESSELDORF/FRANKFURT, Germany (Reuters) - Germany’s second-largest steelmaker Salzgitter on Wednesday said it was not in talks with larger rival Thyssenkrupp about consolidation, pouring cold water on hopes for the creation of a national metals giant.

Salzgitter said it has been successfully independent for more than two decades, but added that it remained open to ideas about what cooperation with peers could look like, provided it was beneficial for its future.

Thyssenkrupp earlier this week said it was talking to peers about consolidation in the steel industry, fuelling hopes for tie-ups in Germany or Europe. A combination with Salzgitter has long been considered one of the most likely options.

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