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Thyssenkrupp prepares steel division for spin-off, CEO says

By Reuters News

FRANKFURT, Oct 28 (Reuters) - Thyssenkrupp TKAG.DE is currently preparing its steel division as the next candidate to be spun-off via a potential listing, its CEO said on Wednesday, following the successful flotation of its materials trading business.

"Our attempts to work with partners have proved unsuccessful, and we are facing up to this fact," Miguel Lopez told Reuters, adding the stated objective for Thyssenkrupp Steel Europe was a divestment via the capital market.

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