Thyssenkrupp has said that it is exploring partnerships for its Marine Systems division, which builds frigates and submarines, and Merz said developing the unit as a standalone business within the group was not the most likely scenario.

Sources said earlier this year that Thyssenkrupp was in talks with Italy's Fincantieri about a possible tie-up and there is regular speculation about France's Naval Group as a potential partner.

(Reporting by Christoph Steitz; Editing by Michelle Adair)