ESSEN, Germany Nov 24 Thyssenkrupp
has personal assurances from the new management of Tata that the
Indian conglomerate is still interested in merging its European
steel business with that of the German group, Thyssenkrupp's
chief executive said.
Tata Sons this month put in place a new management team for
the $100 billion steel-to-software group, days after its board
ousted Chairman Cyrus Mistry and disbanded his advisory council,
triggering a public spat between him and patriarch Ratan Tata.
"The new management has told us personally it still sees the
rationale," Heinrich Hiesinger told a news conference after
Thyssenkrupp reported 2015/16 results on Thursday.
Thyssenkrupp and Tata Steel had been in talks to
merge their European steel units - which include assets in
Britain, Germany and the Netherlands - but the negotiations were
disrupted by Britain's vote to leave the European Union and then
thrown into question by the management turmoil at Tata.
(Reporting by Georgina Prodhan; Editing by Harro ten Wolde)