Large shareholders of thyssenkrupp AG (XTRA:TKA) and KONE Oyj (HLSE:KNEBV) have held talks on a potential merger of the elevator businesses of the two companies, according to a German daily. Handelsblatt reported on Sunday that the Alfried Krupp foundation, which owns 21% of Thyssen, and Kone's largest shareholder Antti Herlin have held talks about a deal. The first conversations took place as early as two years ago, but the proposal was rebuffed by Thyssen's then-Chief Executive Heinrich Hiesinger, the paper said.

Thyssenkrupp declined to comment, while Kone and Antti Herlin were not immediately available for comment.