Daniel Kretinsky to invest in ThyssenKrupp Steel

The Czech investor Daniel Kretinsky has confirmed his interest in Thyssenkrupp Steel. Daniel Kretinsky runs and owns Energeticky, a prumyslovy holding (EPH), the biggest energy group in Central Europe. During the 2020 market crash, he took the stock market by storm, making bets on companies like Macy’s, Foot Locker, Sainsbury, and Royal Mail.

Thyssenkrupp shares surged by up to 10% after the German industrial conglomerate announced that Czech billionaire Daniel Křetínský would acquire a 20% stake in its steel business in 2024.

“If we reach a common basis with both Thyssenkrupp AG and the trade unions for the future direction, we would be prepared to increase our stake,” a spokesman for Kretinsky’s EP Group told the “Rheinische Post” according to an advance report.

IG Metall sent a list of questions to Daniel Kretinsky several months ago that has been left unanswered. Among the key inquiries was whether Kretinsky remains interested in increasing his stake in the steel sector from 20% to 50%.

According to the newspaper, when asked about the timeline for the trade union to receive a response, the EP spokesperson stated that they were keen on engaging in a detailed discussion with the trade unions.

However, the spokesperson explained that it would be fair to first discuss the plan drawn up by management with Thyssenkrupp AG. When asked by IG Metall whether the steel restructuring would take place without redundancies, to which he replied, “This is not an issue that should be discussed in the media.”

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