Thyssenkrupp Capital Markets Day for Steel Likely a Prelude to IPO
Dow Jones
Aug 20
1346 GMT - Thyssenkrupp's planned capital markets day for its steel operations in September is likely a prelude to an IPO, according to Bank of America. Factors related to tariffs, restructuring and a possible exit from the Huettenwerke Krupp Mannesmann steel plant could help significantly boost operating earnings and drive a reassessment of the German industrial company's steel business, BofA writes in a research note. Investors might be wary of how the steel business will develop but BofA says the company's agreement with German unions on restructuring is "a very positive starting point." Thyssenkrupp trades 3.1% lower at 12.56 euros.
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