LONDON: Tata Steel may be considering breaking off talks over a planned merger of its European business with German conglomerate Thyssenkrupp, a UK media report claimed today. The merger talks had been revealed by the Indian steel giant last year as part of a major restructuring of its UK steel business. Such a deal with the German steel major could potentially lead to the formation of a European steel behemoth with blast furnaces in Wales, the Netherlands and Germany. The deal has been slow moving as Tata Steel tries to solve the problem of its own 15-billion-pound British steel pensions scheme. "Talks are ongoing with Thyssenkrupp and to find a sustainable solution for the UK pension scheme," Tata Steel said in a statement.

Source: Economic Times March 05, 2017 12:25 UTC