Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  NATIONAL STOCK EXCHANGE OF INDIA  >  Tata Steel Limited    TATASTEEL   INE081A01012

TATA STEEL LIMITED

(TATASTEEL)
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsAnalyst Recommendations

European Steel Merger Succumbs to Antitrust Decision -- WSJ

share with twitter share with LinkedIn share with facebook
share via e-mail
0
06/12/2019 | 02:48am EDT

By Valentina Pop

BRUSSELS -- The European Union's antitrust enforcer on Tuesday blocked the planned merger of the European steel businesses of India's Tata Steel Ltd. and Germany's Thyssenkrupp AG, saying the combination would reduce competition in the supply of special steel for the car and packaging industries.

"We prohibited the merger to avoid serious harm to European industrial customers and consumers," said competition commissioner Margrethe Vestager, adding that the two companies failed to propose sufficient remedies to address the EU's concerns.

Thyssenkrupp is currently Europe's second-largest producer of high-value steel, followed by Tata. Combined, they would have still ranked behind ArcelorMittal SA.

The antitrust decision, which was expected, marks another defeat for executives and politicians who have been promoting the formation of more European business giants to counter competition from the U.S. and China. It follows on the heels of a failed bid by Italy's Fiat Chrysler Automobiles NV to merge with French car maker Renault SA.

Ms. Vestager dismissed criticism that the European Commission has been a deterrent to European companies gaining scale to compete globally. She said that over the past 10 years the antitrust body has blocked only 10 mergers, while approving 3,000. She also noted that ArcelorMittal was allowed to buy Italy's Ilva, Europe's largest steel plant, after the parties to the deal offered concessions that allayed the commission's concerns.

Tata Steel said last month that the merger with Thyssenkrupp, announced in 2017, was off the table because the remedies demanded by the EC went beyond the "logic" of the deal.

In February, Ms. Vestager's office stopped plans to merge the train-making operations of Germany's Siemens AG with France's Alstom SA, a deal they said was necessary to be able to compete in the future with China's CRRC Corp., the world's largest rail supplier. The commission said the Franco-German merger would have harmed competition in the markets for high-speed trains and signaling systems.

As Europe's steel sector reels from U.S. tariffs imposed last year, Ms. Vestager said the decision to block the Tata-Thyssenkrupp merger will keep production sites open and allow European car makers and the packaging industry to source steel at competitive prices on the continent.

Anticipating the deal's rejection, Thyssenkrupp had abandoned a plan to split itself into two companies. Instead, the German company said it would pursue an initial public offering of its elevator business and explore partnerships for its industrial operations.

Ruth Bender in Berlin contributed to this article.

Write to Valentina Pop at valentina.pop@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
ALSTOM 2.39% 39.49 Real-time Quote.11.96%
ARCELORMITTAL 1.54% 12.138 End-of-day quote.-33.23%
ARCELORMITTAL 1.66% 12.14 Delayed Quote.-33.08%
ONE STOP SYSTEMS INC 4.52% 1.85 Delayed Quote.-4.64%
SIEMENS AG 0.00%End-of-day quote.0.00%
TATA STEEL LIMITED -4.26% 343 End-of-day quote.-31.24%
THYSSENKRUPP AG 1.65% 9.868 Delayed Quote.-34.13%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on TATA STEEL LIMITED
08/21TATA STEEL : J N Tata Vocational Training Institute (JNTVTI) inaugurated at Jhar..
PU
08/16EREGLI DEMIR VE CELIK FABRIKALARI T : Turkey's military pension fund reaches Bri..
RE
08/16TATA STEEL : British business minister welcomes outline British Steel deal
RE
08/14TATA STEEL : Structura wins India's Most Trusted Brand Award from International ..
PU
08/13TATA STEEL : Odisha CM Shri Naveen Patnaik inaugurates NTHA Odisha, a joint init..
PU
08/13TATA STEEL : Odisha Chief Minister Shri Naveen Patnaik dedicates ‘The Rath..
PU
08/13TATA STEEL : Adventure Foundation (TSAF) cadets selected to represent India at t..
PU
08/10TATA STEEL : unveils India's first organised steel retail store ‘steeljunc..
PU
08/09TATA STEEL : Turkish fund seen favourite to take over British Steel
RE
08/09TATA STEEL : Ore Mines & Quarries division honoured with CII Safety, Health & En..
PU
More news
Financials (INR)
Sales 2020 1 592 B
EBIT 2020 156 B
Net income 2020 50 778 M
Debt 2020 963 B
Yield 2020 3,02%
P/E ratio 2020 7,98x
P/E ratio 2021 5,68x
EV / Sales2020 0,85x
EV / Sales2021 0,85x
Capitalization 393 B
Chart TATA STEEL LIMITED
Duration : Period :
Tata Steel Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends TATA STEEL LIMITED
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 464,39  INR
Last Close Price 343,00  INR
Spread / Highest target 96,8%
Spread / Average Target 35,4%
Spread / Lowest Target -6,71%
EPS Revisions
Managers
NameTitle
Thachat Viswanath Narendran Chief Executive Officer, Executive Director & MD
Natarajan Chandrasekaran Chairman
Koushik Chatterjee Chief Financial Officer & Executive Director
Ashok Kumar Chief Technology Officer-Process
Vinay V. Mahashabde Chief Technical Officer-Flat Products
Sector and Competitors
1st jan.Capitalization (M$)
TATA STEEL LIMITED-31.24%5 739
NUCOR-5.37%14 864
POSCO--.--%14 032
ARCELORMITTAL-33.08%13 403
NIPPON STEEL CORP-21.59%12 624
NOVOLIPETSK STEEL PAO--.--%12 538