The steel company SSAB is negotiating cooperation with the Indian Tata Steel in Europe.

According to the news agency Bloomberg, it is a kind of contingency plan if the plans with the German Thyssenkrupp fail.

SSAB and Tata Steel, Bloomberg's anonymous sources, have tentatively discussed an agreement whereby SSAB would take over Tata Steel's European unit.

A buyer has been sought for Thyssenkrupp's steel business for a long time.

In 2019, an attempt was made to merge the unit with the European unit in Tata, India, but the EU Commission blocked the plan.

Just over a week ago, it was reported that the British Liberty Steel had made an offer for the Thyssenkrupp steel unit.

SSAB and Tata Steel have also been bet on to buy the unit.

However, SSAB CEO Martin Lindqvist said at a webinar for analysts on Thursday that the company is not committed to any bidding process.