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STOCKS NEWS EUROPE-ThyssenKrupp down on Brazil report

Reuters - UK Focus

Shares in Germany's ThyssenKrupp (LSE: 0O1C.L - news) are 1.7 percent lower, burdened by a report in German business daily Handelsblatt that cites sources as saying the steelmaker may hold on to a stake in CSA, the Brazil steel mill which it is trying to sell, or scrap the sale altogether.

"We remain sceptical about the disposal process and stick to our Sell rating," DZ Bank analyst Dirk Schlamp writes in a note to clients.

ThyssenKrupp has for more than a year been trying to offload its Steel Americas business, comprising the steel slab-producing mill in Brazil, called CSA, and a rolling mill in Alabama. ThyssenKrupp owns 73 percent in CSA, with the remaining stake belonging to Brazil's Vale.

A ThyssenKrupp spokesman on Monday reiterated the company was in advanced negotiations with one leading bidder on the sale of Steel Americas and aimed for a deal soon.

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Reuters messaging rm://christoph.steitz.thomsonreuters.com@reuters.net