GLOBAL MARKETS: Thyssenkrupp determined to split, despite uncertainty
Steel-to-submarines group will continue with its breakup plans even if it fails to win regulatory approval for a separate joint venture with Tata Steel
Steel-to-submarines group Thyssenkrupp will continue with its breakup plans even if it fails to win regulatory approval for a separate joint venture with Tata Steel, CEO Guido Kerkhoff said last week. "The feasibility of the breakup is absolutely no problem," Kerkhoff told journalists. Thyssenkrupp is planning to break itself apart in addition to combining its European steel operations with those of Tata Steel. Goldman Sachs slashes forecast of no-deal Brexit Goldman Sachs has cut its view of the chances of a "no-deal" Brexit to 10% from 15% previously. It joins other banks and asset managers trimming their forecasts of the probability of Britain crashing out of the EU without a deal on March 29. Analysts at the US investment bank raised its forecast of the chances of an extension to Article 50 to 55% from 50% last week, while keeping unchanged at 35% the probability it sees of a "no Brexit" scenario. Reuters
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