Top Stories
Top Stories
Wires

UPDATE 1-Thyssenkrupp sticks to elevator listing plan amid bid talk

* Thyssenkrupp plans to list minority stake in elevator unit

* CEO says steel market suffering from high raw material costs

* CEO says sees no change in trend for steel market (Adds CEO comments)

DUESSELDORF, June 26 (Reuters) - Thyssenkrupp is sticking to plans to list a minority stake in its elevator unit, the group's chief executive said on Wednesday, amid renewed speculation that Finland's Kone could bid for the division.

"We want to list a minority on the stock exchange," Guido Kerkhoff said during an event at the University of Duesseldorf.

Asked whether he would also consider a sale of the unit, valued at about 14 billion euros ($16 billion), Kerkhoff said: "There is nothing new to report."

The steel industry continues to suffer from high raw material costs and cut-throat price competition, which makes it hard for any steel producer to make money, Kerkhoff also said.

"I don't see this trend changing at the moment," he told Reuters on the sidelines of the event.

($1 = 0.8790 euros) (Reporting by Chris Steitz and Tom Kaeckenhoff; Editing by Edward Taylor and Douglas Busvine)