Thyssenkrupp AG (TKA.XE) and Tata Steel Ltd (500470.BY) said Wednesday they have agreed to combine their European steel activities in a move that would create the region's second-largest steel producer. The memorandum of understanding foresees a 50-50 joint venture that is expected to yield between 400 million and 600 million euros ($480 million and $719 million) annually. Thyssenkrupp said the venture may result in the loss of up to 4,000 jobs, which would be shouldered by both companies. "The goal is to create a leading European flat steel player with a special focus on quality and technology leadership as well as a sustainably competitive cost base," Thyssenkrupp said.via