Reuters quoted Mr Mika Seitovirta CEO of Outokumpu as saying that the company is always ready to sell a mill in Italy as part of plans to buy ThyssenKrupp's Inoxum unit, denying it was an unplanned move.

Outokumpu said that it was committed to sell the mill in Terni, considered one of the most advanced steel mills in Europe, to gain regulatory approval for the deal.

The European Commission had deemed Outokumpu's previous plan to sell Swedish operations as insufficient.

Mr Seitovirta said that "We had naturally prepared ourselves for all the alternatives quite carefully. By no means we did miscalculate the terms of the deal."

Some investors, however, fear the Terni divestment was an unexpected move that may water down the deal's benefits.

The company's shares have been falling since the company announced its plan to sell it, and were down by 3.4% on October 10th 2012, extending their 2% fall a day earlier.

Source - Reuters

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