Thyssenkrupp, once regarded as a flagship of German industrial strength with businesses in steel, elevators, and heavy engineering, has been steadily retreating from its traditional conglomerate model ...
The companies last month abandoned the merger on expectations that the EU would refuse the deal, with Thyssenkrupp announcing it would slash 6,000 jobs as a result, mainly in Germany.
Both firms tried to put together a comprehensive pack of remedies, but the EU commission reply indicated that it did not intend to clear the proposed joint venture
The statement comes a day after the EU launched an in-depth investigation to assess if Tata Steel's proposed joint venture (JV) with German steel giant ThyssenKrupp would reduce competition.
