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Thyssenkrupp says it still wants to float its elevators unit

Thyssenkrupp says it still wants to float its elevators unit
FILE PHOTO: A logo of Thyssenkrupp AG is pictured at the company's headquarters in Essen, Germany, November 21, 2018. REUTERS/Thilo Schmuelgen/File Photo -
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Thilo Schmuelgen(Reuters)
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BERLIN (Reuters) – Thyssenkrupp <TKAG.DE> on Monday said it was sticking to plans to float its elevator business after a media report said the conglomerate was planning to start talks in autumn on selling the unit.

Thyssenkrupp shares traded 2.7% higher at 1140 GMT, with a trader pointing to a Bloomberg report which said the company was planning to hold sale talks.

While there has been frequent speculation that Finland’s Kone <KNEBV.HE> might bid for the division, a Thyssenkrupp spokesman said that an initial public offering was still the plan, echoing what the company’s CEO Guido Kerkhoff said in June.

(Reporting by Tassilo Hummel; Editing by Michelle Martin)

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