DUESSELDORF (Reuters) – Thyssenkrupp’s CEO said on Friday that the purchase of 20% in the German industrial group’s steel business by a holding of Czech billionaire Daniel Kretinsky can be reversed if talks over a deeper collaboration fail.
Speaking at ThyssenKrupp’s annual shareholder meeting, CEO Miguel Lopez said that there is a fallback agreement to wind down his investment if the two sides fail to agree on 50/50 shared ownership in the embattled steel business as planned.
(Reporting by Tom Kaeckenhoff in Duesseldorf; Writing by Ludwig Burger; Editing by Miranda Murray)
