German industrial group Thyssenkrupp reaffirmed its intention to establish its steel division as an independent entity on Friday, following a court ruling. It issued the statement after the European Court of Justice (ECJ) published a ruling upholding a 2019 European Commission ban on a merger between Thyssenkrupp's steel division and the European steel business of the Indian company Tata Steel.

Thyssenkrupp has lost its appeal against the European Union's antitrust veto of its joint venture with Tata Steel. The EU's decision was upheld by the Court of Justice of the European Union. Thyssenkrupp expressed concerns about the Commission's decision and remains focused on a new joint venture with Czech billionaire Daniel Kretinsky.

The EU’s Court of Justice on Friday rejected all the arguments made by Thyssenkrupp, upholding the EU’s 2019 merger prohibition.