GP Günter Papenburg reduces its Salzgitter stake to 24.12%, below 25%, whilst Lower Saxony becomes the steelmaker's largest shareholder at 26.5%. The ownership shift signals potential strategic repositioning amid European steel sector challenges. Salzgitter's €500 million bond issuance supports SALCOS hydrogen steel initiative & restructuring, demonstrating commitment to technological innovation & decarbonization despite ownership uncertainties & competitive pressures.