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Thyssenkrupp - which apart from steel, builds submarines, car parts and operates a large materials trading business - said it was in constructive and open-ended talks with EPH about a potential 50-50 steel joint venture.

EPH, controlled by Czech billionaire Daniel Kretinsky, would support Thyssenkrupp Steel Europe with its energy expertise in any tie-up, Thyssenkrupp said, adding all co-determination and collective bargaining agreements would remain in place.

Kretinsky, who was vying to buy Steag through his energy holding company EPH, teamed up to bid with Germany's RAG foundation, which helps Germany transform coal mining regions into areas for renewable energy, according to media reports.

Steag, Asterion, EPH and the consortium of utilities that own Steag declined to comment.

"EP Commodities transports natural gas to Ukraine and uses Ukrainian gas storage facilities," Miroslav Hasko, chairman at EPH's EP Commodities, said.