Liberty Steel set to bid for Thyssenkrupp steel unit - source

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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.

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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, which said at least one interested party would make an offer for the steel unit on Friday.

Liberty Steel was not immediately available to comment while Thyssenkrupp declined to comment.

Thyssenkrupp Chief Executive Martina Merz said earlier this week the company would consider all options for the steel unit, including selling a stake to the German government.

Last week Economy Minister Peter Altmaier said he opposed the idea of the government taking a direct stake, and instead favoured support payments to help the industry transition to hydrogen-based steel production.

Thyssenkrupp 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 and Pravin Char)

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

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