Thyssenkrupp could reach an agreement this month to merge its European steel business with that of Tata Steel, a spokesman for the group said, adding talks were constructive and had entered the final stretch.
Earlier, German monthly Manager Magazin reported that Thyssenkrupp`s supervisory board could agree to a combination either on Sept. 23 or 24, citing people involved in the negotiations. It said there had been a break-through in the lengthy negotiations.
A spokesman for Thyssenkrupp`s works council confirmed that a supervisory board meeting initially scheduled for Sept. 12 had been pushed back to Sept. 23 or 24.
Shares in Thyssenkrupp rose on the news and were 2.5 percent higher by 1157 GMT.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.