Following a report by a Russian news agency stating that the Russian steelmaker Severstal and German steel producer ThyssenKrupp were in merger talks, the concerned companies have released a statement officially denying the report.
ThyssenKrupp has stated that the report is incorrect and totally inaccurate. "Thyssenkrupp is not conducting talks with Severstal", the company's release said.
On the other hand, Severstal's CEO Alexey Mordashov has categorically stated that Severstal is not involved in talks with ThyssenKrupp. "Severstal does not intend to sell any assets to Thyssenkrupp, did not hold any merger talks in the past and will not hold them in the future", Mr. Mordashov continued.