Following rumours circulating in recent days (and reported by international news agencies Bloomberg and Reuters) regarding a potential merger between Kone and TK Elevator, Schindler would be reportedly ready to challenge the merger deal before antitrust authorities. This is what Schindler’s CEO, Paolo Compagna, declared to Reuters.

According to Reuters news agency, “Compagna stated that a merger would be a ‘bloodbath’ ‌bound ⁠to disrupt the industry, as the world’s third- and fourth-largest lift ⁠manufacturers would need to fit together overlapping customer ⁠bases, production sites and teams.”

News of the potential merger between Kone and TK Elevator has been circulating since 16 March 2026, when Bloomberg News, citing sources close to the matter, reported that Finnish lift manufacturer Kone was in talks to acquire TK Elevator, which has ‌been preparing for an initial public offering. According to the Bloomberg report, TK Elevator’s owners are reportedly seeking a valuation of up to €25 billion ($28.74 billion), including debt, in any deal.

Kone is reportedly aiming to reach an agreement within the coming weeks, subject to a detailed due diligence process. The report also states that the owners of TK Elevator are continuing work on a potential listing alongside negotiations about a sale.

According to the Bloomberg report, Advent International and Cinven (private equity firms that own TK Elevator, acquired in 2020 by Thyssenkrupp for approximately €17.2 billion) had been working on a planned IPO, but recent volatility in the stock markets has made a sale more attractive.

When contacted by Reuters, Cinven, Advent, Kone and TK Elevator declined to comment. Reuters reported last year that TK Elevator’s owners were considering the US as a venue for a potential IPO. Sources had stated that the company would likely be valued at more than €20 billion.