FRANKFURT (AFP) - ThyssenKrupp Stahl, Germany's biggest steel maker, is mulling the possibility of a merger with Anglo-Dutch rival Corus.
Combining the steel-making arm of German heavy industry giant ThyssenKrupp with Corus, the world's ninth-biggest steel maker, would create the third largest group in the world behind Arcelor of Luxemburg and LNM of the Netherlands, the Financial Times (FT) reported Wednesday.
On Tuesday, the head of ThyssenKrupp Stahl, Ulrich Middelmann, said the group was eyeing a potential acquisition in Europe but refused to name any names.
FT quoted him as saying that a tie-up with Corus was one of several options the German company was discussing as part of a plan to lead further consolidation in the European steel industry.
However, no formal discussions had started with any of the companies and ThyssenKrupp would only proceed on a friendly basis, Middelmann told the FT.
The newspaper named Riva of Italy, Voestalpine of Austria, Salzgitter of Germany and SSAB as Sweden as potential alliance partners.
Corus was formed from the merger of British Steel and Dutch group Hoogovens in 1999 and has recently started making a profit after a number of difficult years.
The head of German group Salzgitter, Europe's number three steel maker, recently ruled out the possibility of a tie-up with rival ThyssenKrupp Stahl.