Investors say Thyssenkrupp-Tata Steel deal favours India, express concern

Cevian Capital, Thyssenkrupp's biggest investor, voted against the deal, according to a person familiar with the matter

Thyssenkrupp AG and Tata Steel Ltd. reached a final agreement to set up a European steel giant as some of the German company’s biggest investors expressed concern that the deal favors its Indian partner.

The tie-up to create Europe’s largest steel producer after ArcelorMittal is part of efforts to tackle industry overcapacity as Chinese exports fed a global glut last year. The market has rebounded since the joint venture was announced as steel demand strengthens and Donald Trump’s threat of tariffs pushes prices to their highest level in years.

While the consolidation raised hopes of greater pricing discipline, some