Tata Steel says supports logic of joint venture with ThyssenKrupp

Mumbai: India’s Tata Steel Ltd said on Wednesday that it supports the logic behind a joint venture with ThyssenKrupp, days after the companies submitted proposals to the European Commission to get a nod to the proposed partnership.

“We continue to engage in a constructive dialogue with the European Commission and believe our proposals address their concerns, and still very much support the industrial logic of the joint venture,” said a Tata Steel spokesman in an emailed statement to Reuters.

Tata Steel and ThyssenKrupp had proposed to combine their steel operations Europe, which would form the region’s second-biggest steelmaker. However, the deal has not been approved because of concerns about its impact on competition.