Tata Steel resumes talks with Germany's Thyssenkrupp for possible merger

Baosteel, SSAB also in race for German steel firm

Tata Steel Europe has restarted negotiations with Germany’s Thyssenkrupp for a possible merger almost a year after the two companies called off a joint venture proposal, citing the European Commission’s objections. According to investment bankers, both Tata Steel and Thyssenkrupp are facing a tough financial situation and will take steps to sell some assets so that they can meet Europe’s anti-competition norms.
 

“Since June last year, steel prices have crashed and the financial metrics of both companies have deteriorated. Tata Steel Europe is downsizing and seeking a bailout of 500 million pounds from the British government to run operations in