CME says all CME Group markets open and trading following outage
Investing.com -- Salzgitter shares fell 6.3% on Thursday after Manager Magazin reported that GP Papenburg plans to fully divest its stake in the German steel company.
The magazine also suggested that Salzgitter could potentially become part of a German steel conglomerate alongside Thyssenkrupp, under the leadership of the State of Lower Saxony.
Lower Saxony has recently regained its position as Salzgitter’s largest shareholder with 26.5% of the capital.
While GP Papenburg has not officially confirmed its divestment plans, a recent voting rights notification showed the company has already reduced its stake below 25% to 24.12%. This reduction raises concerns about potential share overhang, with the next disclosure threshold set at 20%.
The scenario of a German steel conglomerate remains speculative at this point. Thyssenkrupp is currently in negotiations to sell its steel division to Jindal Steel.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.