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STOCKS NEWS EUROPE-ThyssenKrupp falls on Steel Americas report

Reuters - UK Focus

Shares in ThyssenKrupp (Xetra: 750000 - news) slide 1.8 percent in early trade, making them the biggest decliners on Germany's blue-chip DAX index (Xetra: ^GDAXI - news) , as a report that the German steelmaker may scrap the planned sale of its mills in the Americas creates uncertainty, traders say.

"Besides the financial setback, a deal failure would severely harm CEO (Heinrich) Hiesinger's strategy to transform ThyssenKrupp into a more technology-driven company," Equinet analyst Stefan Freudenreich says, adding he recommends that investors stay on the sidelines for the moment.

ThyssenKrupp denies the report in Frankfurt Allgemeine Zeitung, which says it plans to halt the sales process to launch a speedy capital increase to bolster its strained finances.

Reuters messaging rm://maria.sheahan.thomsonreuters.com@reuters.net