Hobson's choice for Tata Steel

The JV is seen as a last ditch attempt by Thyssenkrupp chief executive Heinrich Hiesinger to build a sustainable steel business in Europe

Last month, Tata Steel’s announcement of the proposed joint venture (JV) between its European business and German steel maker Thyssenkrupp generated considerable confidence among analysts back in India. Ever since it acquired Corus back in 2007, the operations have become a millstone around Tata Steel’s neck. And the plan to look at a strategic partner such as Thyssenkrupp, a move which has been in the works for over three years, is seen as a smart way to reduce exposure in Europe, drive consolidation in the European steel industry and also enable the company to focus back on the Indian market.