Thyssenkrupp won't rush into Tata Steel merger: CFO
Thyssenkrupp will carefully evaluate any potential pension deal by Tata Steel before advancing with a hoped-for merger of both groups` European steel businesses, the German company`s finance chief said on Thursday.
"If you read that Tata has a deal, that doesn`t mean we can stand up a week later and say: Now we have a joint venture," Guido Kerkhoff told journalists after presenting third-quarter results.
"Quality comes before time."
Britain`s Sky News reported on Wednesday that Tata Steel was on the brink of detaching its 15 billion-pound ($19.45 billion) British Steel pension fund from its UK operations, a precondition for any merger deal with Thyssenkrupp to happen.
($1 = 0.7714 pounds)
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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