Thyssenkrupp is exploring multiple strategic options amid significant developments in its various divisions. The company’s CFO revealed that a new business plan for the steel division forms the basis for talks about EPCG raising its stake to 50%. If the deal with Daniel Kretinsky's EPCG fails, Thyssenkrupp plans to resume talks with other industry partners and rivals. Additionally, Carlyle has withdrawn its bid for Thyssenkrupp's naval unit due to indecision from the German government regarding private equity involvement. The company is also considering a spin-off of its marine division, TKMS, which could occur as early as 2026, though this timeline is considered ambitious. Thyssenkrupp has a Plan B for its steel division if the Kretinsky deal fails.