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  1. ITV Report

Tata Steel and Thyssen Krupp to confirm merger

Tata Steel will merge with Thyssen Krupp. Credit: PA

Tata Steel and Thyssen Krupp will formally announce the merger of their European steel operations on Wednesday, ITV News understands.

Sources have confirmed that a memorandum of understanding is expected to be signed between the German and Indian companies.

The merger has long been in the planning. Credit: PA

Unions in the UK are thought broadly welcome the move as long as commitments, especially those given to steel workers and steel production in South Wales, are kept.

The merger has long been in the planning but was unable to go ahead until Tata formulated and agreed a plan to manage their pension liabilities which they did recently.