German magazine has reported that the Finish company Kone, ranking at number four in the worldwide business with elevators and escalators has proposed in 2015 merger with industrial group ThyssenKrup.

The merger between their elevator divisions did not go through.

Under Kone’s proposal, they would manage the merged units, but Thyssenkrupp’s board wanted to keep control.

The elevator division is an integral part of our group. We have clear growth targets and we want to drive the business forward,” a Thyssenkrupp spokesman said.

Thyssenkrupp spokesman did not comment on whether there had been a merger proposal from Kone. Kone refused to comment as well.

Source: Wirtschaft Woche