Steel flotation dropped

German steel and engineering giant ThyssenKrupp has cancelled the September flotation of its steel business. The company said the weak value of steel shares meant the strategic advantages of a float were outweighed by the negatives. Thyssen-Krupp hoped to use the money raised to expand its operations.

German steel and engineering giant ThyssenKrupp has cancelled the September flotation of its steel business. The company said the weak value of steel shares meant the strategic advantages of a float were outweighed by the negatives. Thyssen-Krupp hoped to use the money raised to expand its operations.