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Shares of Tata Steel Ltd dropped as much as 2.6 per cent to Rs 551, their lowest since May 24. The stock posted its biggest intraday percentage loss since June 1.
Top shareholders of Thyssenkrupp AG are sceptical about the plan to combine European steel operations with Tata Steel, and have discussed voting against the proposal at a board meeting as early as next week, according to a Bloomberg report.
Talks between Thyssenkrupp and Tata Steel to create Europe's No.2 steelmaker are in final stages. Tata Steel stock had fallen 14.4 per cent this year up to Friday's close.
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