Czech billionaire Daniel Kretinsky to sell Thyssenkrupp steel stake as JV plans falter

Czech billionaire Daniel Kretinsky has sold his 20% stake in Thyssenkrupp's steel unit, scrapping joint venture plans. This move paves the way for Thyssenkrupp to intensify discussions with India's Jindal Steel International, which submitted an indicative bid for the entire steel business. The decision ends protracted talks and shifts focus amid European steel industry challenges.