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Tata Steel's UK units may be put on the block to clear JV with Thyssenkrupp

Tata Steel's European unit may have to divest its UK facilities to get the proposed JV with Thyssenkrupp cleared by the European Union Commission. The regulator is probing if the joint venture would harm competition. It will announce its decision on June 5. The joint venture will be the second largest steelmaker in Europe, behind ArcelorMittal.  It will have annual revenues of 17 billion euros and will produce 21 million tons of steel annually. The Commission had identified three industry segments - automotive steel, coated steel used for packaging and electrical steel - where the JV may harm competition.

Read More at Moneycontrol News date : 2 Apr 2019, Tuesday

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