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IG Metall union opposes potential Liberty Steel takeover of Thyssenkrupp's steel unit

·1-min read
ThyssenKrupp steel factory in Duisburg
ThyssenKrupp steel factory in Duisburg

DUESSELDORF (Reuters) - The German IG Metall union rejects a potential takeover of Thyssenkrupp's <TKAG.DE> steel unit by Liberty Steel Group as it could lead to job losses and a breakup of the German company, its North Rhine-Westphalian regional leader told Reuters.

"This is exactly what we warned about," Knut Giesler said. "Politicians must act now."

The privately-held Liberty Steel Group is set to make a bid for Thyssenkrupp's ailing steel unit as soon as Friday, a source close to the process told Reuters on Thursday.

(Reporting by Tom Kaeckenhoff, writing by Kirsti Knolle; editing by Riham Alkousaa)