Liberty Steel set to bid for Thyssenkrupp steel unit -source

Credit: REUTERS/WOLFGANG RATTAY

Privately-held Liberty Steel is set to make a bid for the ailing steel unit of Germany's Thyssenkrupp, a source close to the process told Reuters on Thursday.

FRANKFURT, Oct 15 (Reuters) - Privately-held Liberty Steel is set to make a bid for the ailing steel unit of Germany's Thyssenkrupp TKAG.DE, a source close to the process told Reuters on Thursday.

The move was first reported by German magazine Spiegel. Liberty Steel was not immediately available to comment and Thyssenkrupp declined comment.

Thyssenkrupp, whose steel unit likely made an operating loss of about 1 billion euros ($1.2 billion) last year, is also exploring tie-ups with India's Tata Steel TISC.NS, Germany's Salzgitter SZGG.DE and Sweden's SSAB SSABa.ST, sources have told Reuters.

(Reporting by Christopher Steitz, writing by Emma Thomasson, editing by Chris Reese)

((+4930220133580; Reuters Messaging: emma.thomasson.thomsonreuters.com@reuters.net))

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