Severstal denies interest in Thyssenkrupp assets

Reuters reported that Russian steel giant Severstal has no plans to participate in industry consolidation in Europe. This statement effectively narrows down the list of potential partners for Germany's Thyssenkrupp.

Severstal CFO Alexei Kulichenko told Reuters: "Europe does not look like an attractive option today, so we did not consider it."

Thyssenkrupp said it could restrict the company's second-largest steel operations last month, prompting investment banks and law firms to compete for a role in the anticipated venture.