Investing.com -- Industrial group Thyssen-Krupp has called off the partial sale of its marine division, TKMS, to Rheinmetall (ETR: RHMG ). According to Handelsblatt, citing several inside sources, the decision was made due to disagreements at several levels. Thyssen-Krupp’s management, under the leadership of CEO Miguel Lopez, has officially ended the sale process.

Lopez is reported to have personally contacted Rheinmetall to cancel the deal, which was initially perceived as a move towards consolidating the German defense industry. The sources revealed that the decision to halt the sale was influenced by cost considerations, a demand for government intervention by the CEO of Rheinmetall, and personal reasons.

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