Mumbai, Oct. 2 -- German steelmaker Thyssenkrupp has called off its joint venture plan with Czech billionaire Daniel Kretinsky's EP Group, as it considers rival suitor Naveen Jindal's acquisition offer.

Both EP Group and Thyssenkrupp AG "mutually agreed" to end the discussions on the possible equal joint venture for Thyssenkrupp Steel Europe, according to a joint statement.

"EPG respects Thyssenkrupp AG's preference to concentrate on discussions with Jindal Steel International about its submitted indicative bid for Thyssenkrupp Steel Europe and has agreed to withdraw from further talks, return its 20 percent stake in Thyssenkrupp Steel Europe, and receive reimbursement of the purchase price it paid to Thyssenkrupp AG," both the companie...