FRANKFURT, Jan 18 (Reuters) - Shares in Thyssenkrupp rose on Monday as traders pointed to a Bloomberg report which said that the group was considering a spin-off of its steel business, citing people familiar with the matter.

Thyssenkrupp said that in addition to a potential sale of the steel business it was also examining options to develop the division on a standalone basis, declining to comment further.

Shares in Thyssenkrupp rose 7% on the Bloomberg report.

Britain's Liberty Steel in October made a non-binding offer for Thyssenkrupp's steel division, which made an operating loss of nearly 1 billion euros in the last fiscal year, and was due to start due diligence last year.

Thyssenkrupp plans to decide in March whether to sell the business or develop it further on a standalone basis. (Reporting by Christoph Steitz; editing by Thomas Seythal and Jane Merriman)