By Neetha Mahadevan
FRANKFURT--ThyssenKrupp AG (TKA.XE) isn't in talks with
Rheinmetall AG (RGHM.XE) about selling its marine systems business
to the defense technology company, a spokesman for the German steel
maker said denying an earlier report by German newspaper
Wirstschafts Woche.
The newspaper had reported that the two companies are close to
finalizing a deal, citing sources.
"We are not currently in talks," a spokesman for the German
steel maker said, denying the report due to be published on
Monday.
The report said the two parties still have to agree on the price
for the business, and the parties are only about EUR100 million
[$126.7 million] apart on deciding the price, according to a source
close to the matter.
A spokesman for Rhinemetall declined to comment on the
report.
ThyssenKrupp's marine business, which makes naval vessels,
surface ships and submarines, reported revenue of EUR1.3 billion
last year.
Write to Neetha. Mahadevan at neetha.mahadevan@wsj.com
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