Thyssenkrupp admits to slow turnaround, shares tank

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Thyssenkrupp's restructuring was progressing at a slow pace, its finance chief said, as the company grapples with delayed spin off and listing of two of its units, as well as negative cash flow, sending its shares down nearly 10%.

Keysberg said a potential listing of Nucera, Thyssenkrupp's hydrogen joint venture with Italy's De Nora

Thyssenkrupp's free cash flow before M&A, a key gauge of the company's financial health, improved in the first quarter from a year earlier, but remained negative at 365 million euros .

 

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