May 10, 2016 / 7:46 AM / 2 years ago

Thyssenkrupp CFO says no concrete moves in steel consolidation

FRANKFURT, May 10 (Reuters) - Germany’s Thyssenkrupp still sees consolidation of the European steel industry as necessary, given low prices and overcapacities, but is not involved in any concrete merger talks, its finance chief said on Tuesday.

“I can only repeat: Everyone is talking to everyone. If we had something more concrete to report we would do so,” Guido Kerkhoff told reporters on a call after the group’s steel operations forced it to cut its full-year guidance.

Kerkhoff said Thyssenkrupp was doing everything to be able to participate in any consolidation from a position of strength, and saw its European steel business in relatively good shape in terms of profitability, compared with rivals. (Reporting by Georgina Prodhan; Editing by Maria Sheahan)

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