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Thyssenkrupp says Tata Steel deal may come in September

Reuters - UK Focus

FRANKFURT/DUESSELDORF, Sept 11 (Reuters) - Thyssenkrupp (Amsterdam: TH6.AS - news) could reach an agreement this month to merge its European steel business with that of Tata Steel (BSE: TATASTEEL.BO - news) , a spokesman for the group said, adding talks were constructive and had entered the final stretch.

Earlier, German monthly Manager Magazin reported that Thyssenkrupp (IOB: 0O1C.IL - news) 's supervisory board could agree to a combination either on Sept. 23 or 24, citing people involved in the negotiations. It said there had been a break-through in the lengthy negotiations.

A spokesman for Thyssenkrupp's works council confirmed that a supervisory board meeting initially scheduled for Sept. 12 had been pushed back to Sept. 23 or 24.

Shares (Berlin: DI6.BE - news) in Thyssenkrupp rose on the news and were 2.5 percent higher by 1157 GMT. (Reporting by Georgina Prodhan and Tom Kaeckenhoff; Writing by Christoph Steitz; Editing by Maria Sheahan)