ThyssenKrupp mulls tie-up with Corus

0 Comments | AFP, October, 2004

FRANKFURT (AFP) — ThyssenKrupp Stahl, Germany's biggest steel maker, is mulling the possibility of a merger with Anglo-Dutch rival Corus.

Combining the steel-making arm of German heavy industry giant ThyssenKrupp with Corus, the world's ninth-biggest steel maker, would create the third largest group in the world behind Arcelor of Luxemburg and LNM of the Netherlands, the Financial Times (FT) reported Wednesday.

On Tuesday, the head of ThyssenKrupp Stahl, Ulrich Middelmann, said the group was eyeing a potential acquisition in Europe but refused to name any names.

FT quoted him as saying that a tie-up with Corus was one of several options the German company was discussing as part of a plan to lead further consolidation in the European steel industry.

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