The European Commission is expected to outline its competitive concerns about the merger this week, calling on the two firms to offer compromises to avert a potential veto cufflinks cartier. “We won’t support a merger at any price,” Markus Grolms, vice chairman of Thyssenkrupp’s supervisory board and secretary at IG Metall, Germany’s biggest labor union, told Reuters on Wednesday. “We have always defined a red line with regard to the merger control proceedings. If this line is crossed we won’t give our support,” Grolms said, without saying where the line would be drawn..
Shares in the group traded 3.2 percent lower at 1124 GMT, dropping to a fresh three-year low. Several brokerages cut their price targets following weak first-quarter results on Tuesday. Grolms said Thyssenkrupp’s supervisory board, where labor representatives hold 10 of the 20 seats, would have to vote on the outcome of remedy negotiations between the company and the Commission cufflinks cartier. They could be outvoted by Chairwoman Martina Merz, who has a casting vote in case of a draw, but this would be unprecedented and would go against Thyssenkrupp’s long-standing tradition of making large restructuring moves with labor support..
Thyssenkrupp Chief Executive Guido Kerkhoff a day earlier said the Commission’s statement of objections, expected at the end of the week, was not unusual given the transaction’s size. He said it gave no reason for fresh concerns. The steel-to-submarines group is still confident it can complete the deal in early 2019. The European Commission will rule on the transaction by April 29 cufflinks cartier. “We’ve always been straight about this and have already confronted (former CEO Heinrich) Hiesinger with our concern that the risks from merger control proceedings are either underestimated or deliberately downplayed by management,” Grolms said..
LONDON/NEW YORK/DUBAI (Reuters) – When news emerged that Qatar may have unwittingly helped bail out a New York skyscraper owned by the family of Jared Kushner, Donald Trump’s son-in-law, eyebrows were raised in Doha. Kushner, a senior White House adviser, was a close ally of Saudi Crown Prince Mohammed bin Salman – a key architect of a regional boycott against Qatar, which Riyadh accuses of sponsoring terrorism. Doha denies the charge. Brookfield, a global property investor in which the Qatari government has placed investments, struck a deal last year that rescued the Kushner Companies’ 666 Fifth Avenue tower in Manhattan from financial straits cufflinks cartier.
The bailout, in which Doha played no part and first learned about in the media, has prompted a rethink of how the gas-rich kingdom invests money abroad via its giant sovereign wealth fund, two sources with knowledge of the matter told Reuters. The country has decided that the Qatar Investment Authority (QIA) will aim to avoid putting money in funds or other investment vehicles it does not have full control over, according to the sources, who are familiar with the QIA’s strategy cufflinks cartier. “Qatar started looking into how its name got involved into the deal and found out it was because of a fund it co-owned,” said one of the sources. “So QIA ultimately triggered a strategy revamp.”..