Morgan Stanley Trims Thyssenkrupp Voting Stake to 4.1% as Duisburg Green-Steel Start Slides to 2029
Published on 11/10/2026 at 11:31 | Editorial boerse-global.de
Thyssenkrupp's share price has been on the front foot, adding 2.3% in the latest session after climbing 5.0% the day before to close at EUR 12.45. That earlier advance came amid a broad recovery across the German equity market, with the MDAX also posting solid gains as falling oil prices and a rebound on Wall Street underpinned sentiment.
A regulatory filing from Morgan Stanley has meanwhile redrawn the picture of who holds sway over the conglomerate. The US bank's aggregate voting position in Thyssenkrupp has fallen from 7.96% to 4.1%, according to a mandatory disclosure. The figure bundles voting rights attached to shares with those arising from instruments, meaning the headline number reflects both direct equity and derivative exposure.
Steel separation takes shape
Alongside the shifting shareholder register, the restructuring of the steel division remains the central strategic theme. CEO Miguel López told Reuters on 28 October that Thyssenkrupp is preparing Steel Europe for a possible stock-market spin-off, after talks with prospective partners failed to bear fruit.
Should investors sell immediately? Or is it worth buying Thyssenkrupp?
One separation has already been executed. Roughly two weeks ago, tk accelis began trading as an independent listed company, with Thyssenkrupp retaining a 51% majority stake, according to company statements.
Hydrogen plant pushed back two years
The timeline for the direct-reduction plant in Duisburg, intended to produce lower-carbon steel, has slipped. Commissioning is now planned for 2029 rather than the original 2027, a delay confirmed by a spokesperson for Thyssenkrupp Steel Europe, who pointed to adjustments during the engineering phase and to the availability of hydrogen. Press reports, citing a European Commission document, had flagged the revised date, and industry coverage describes a hydrogen market developing more slowly than anticipated.
On the funding side, the company has received a legally binding amended approval for subsidies under its tkH2Steel decarbonisation project. According to Thyssenkrupp, the revised conditions allow a gradual and more flexible ramp-up of the hydrogen share, giving the project planning certainty. Thyssenkrupp Steel is also preparing a fresh hydrogen tender.
December date with investors
Management will publish the 2025/2026 annual report on 8 December and discuss the full-year figures with analysts and investors. An annual press conference and an analyst and investor call are scheduled for the same day.
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