German Chancellor Olaf Scholz has indicated that the German government may consider acquiring a stake in Thyssenkrupp’s steel business, he said in an interview with a German newspaper.
However, earlier this year, Thyssenkrupp sold a 20% stake in its steel division to Czech billionaire Daniel Kretinsky and is currently in discussions to sell an additional 30%.
“I’m not taking any option off the table now,” he told Funke Media Group when asked whether such a move was possible, adding the German government had repeatedly invested to temporarily support stricken companies such as Lufthansa, Uniper, and the Meyer shipyards.
“Our involvement is temporary and is intended to help companies overcome hard times so that potential investments do not fail due to a lack of equity.”
As per the reports on Reuters, Scholz said that he would meet with top representatives of Germany’s distressed steel sector on Monday to discuss the issues of high energy prices and cheap Asian competition white observing the shift to decarbonization.