FRANKFURT (dpa-AFX Broker) - A foreseeable solution for the steel business has led to a recovery of Thyssenkrupp shares on Friday morning. On the trading platform Tradegate, the shares of the Essen-based company rose by more than 7 percent after they had recently slipped by 19 percent from their monthly high. "It's hard to believe, but it seems as if there will be a Thyssen Group without steel in the future - or at least without a majority," said Baader expert Christian Obst in his initial reaction.

It had previously been announced that the Group had reached an agreement with the Czech billionaire Daniel Kretinsky after months of negotiations. Kretinsky's holding company EPCG will now initially take over 20 percent of the Thyssenkrupp Steel Europe division. The parties have agreed not to disclose the terms of the transaction. Negotiations are also underway to acquire a further 30 percent of the steel business. The aim is still to form a joint venture in which each partner holds 50 percent.

Obst expects a positive reaction from investors. The management is once again demonstrating that it is prepared to take bold steps in order to achieve its goals./ag/ngu

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