BERLIN: Thyssenkrupp on Monday said it was sticking to plans to float its elevator business after a media report said the conglomerate was planning to start talks in autumn on selling the unit.

Thyssenkrupp shares traded 2.7% higher at 1140 GMT, with a trader pointing to a Bloomberg report which said the company was planning to hold sale talks.

While there has been frequent speculation that Finland's Kone might bid for the division, a Thyssenkrupp spokesman said that an initial public offering was still the plan, echoing what the company's CEO Guido Kerkhoff said in June.