Tata Steel-ThyssenKrupp JV likely to fail; stock price crashes; here's all you should know

Thyssenkrupp is expecting the joint venture with Tata Steel Ltd to fail, news agency Reuters has reported. Tata Steel shares fell as much as 7.3 per cent to Rs 481 per share on the BSE after the report.

The two companies last year struck a deal to combine their European steel units to create the continent's second-largest steelmaker after ArcelorMittal, a move that must be cleared by the European regulators.

The landmark deal has not yet been approved because of concerns about its impact on competition.

A ThyssenKrupp spokesman on Sunday, said: "The Competition Commission has taken the reworked commitments proposed by ThyssenKrupp and Tata Steel as an opportunity to conduct another market test."