Thyssenkrupp jumps premarket after Kone buys TK Elevator

ThyssenKrupp AG

29/04/2026 07:34

** Shares in Thyssenkrupp TKAG.DE jump 5.8% in early Frankfurt trade after Finnish lift maker Kone KNEBV.HE agrees to buy rival TK Elevator, in which the German industrial and steel company holds a 16.2% stake

** The transaction is valued at 29.4 billion euros ($34.4 billion), creating the world's largest lift maker

** "Not unexpected but should be supportive for Thyssenkrupp shares," a local trader says

** The stock, which has lost 5.7% YTD, is seen at the top of Germany's mid-cap index .MDAXI

($1 = 0.8548 euros)

 (Reporting by Ozan Ergenay)

 ((ozan.ergenay@thomsonreuters.com))