Published by Global Banking & Finance Review®
Posted on December 7, 2024
1 min readLast updated: January 27, 2026
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German Chancellor Olaf Scholz is open to Berlin investing in Thyssenkrupp's steel business to support the sector amid high energy prices and competition.
FRANKFURT (Reuters) - German Chancellor Olaf Scholz is not ruling out Berlin potentially taking a stake in the steel business of conglomerate Thyssenkrupp, he told a German newspaper.
"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, mentioning Lufthansa, Uniper, and the Meyer shipyards as recent examples.
"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."
Scholz said he would meet with top representatives of Germany's ailing steel sector on Monday to discuss how to tackle high energy prices, cheap Asian competition and a slowing shift to decarbonisation.
Thyssenkrupp earlier this year sold a 20% stake in its steel business to Czech billionaire Daniel Kretinsky, with talks to sell a further 30% ongoing.
(Reporting by Christoph Steitz; Editing by Mark Potter)
The article discusses the possibility of Berlin taking a stake in Thyssenkrupp's steel business as part of temporary government support.
To support the steel sector amid challenges like high energy prices and competition from Asia.
Daniel Kretinsky is a Czech billionaire who recently acquired a 20% stake in Thyssenkrupp's steel business.
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