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Heads of Thyssen and Kone hold merger talks
(MENAFN) Large shareholders of Thyssenkrupp and Kone have held talks on a potential merger of the elevator businesses of the two companies.
The German newspaper Handelsblatt reported that the Alfried Krupp foundation, which owns 21 percent of Thyssen, and Kone's largest shareholder Antti Herlin have held talks about a deal.
The foundation said it had told Kone that questions about the elevator unit should be referred to Thyssenkrupp, as it said it had informed Thyssen's executive board about the talks, and that it was up to the company to make decisions or respond to queries.
Earlier this month, the Alfried Krupp foundation, which has two seats on Thyssen's supervisory board, said that a break-up of the industrial conglomerate would not happen, following similar remarks from the company's chairman.
The German newspaper Handelsblatt reported that the Alfried Krupp foundation, which owns 21 percent of Thyssen, and Kone's largest shareholder Antti Herlin have held talks about a deal.
The foundation said it had told Kone that questions about the elevator unit should be referred to Thyssenkrupp, as it said it had informed Thyssen's executive board about the talks, and that it was up to the company to make decisions or respond to queries.
Earlier this month, the Alfried Krupp foundation, which has two seats on Thyssen's supervisory board, said that a break-up of the industrial conglomerate would not happen, following similar remarks from the company's chairman.
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