FILE PHOTO: A steel worker of Germany's industrial conglomerate ThyssenKrupp AG which holds it's annual shareholders meeting on Friday February 1, 2019, wears protection helmet as he works near a blast furnace at Germany's largest steel factory in Duisburg, Germany, January 28, 2019. Picture taken January, 28, 2019. REUTERS/Wolfgang Rattay/File Photo

FRANKFURT (Reuters) - Thyssenkrupp shares extended their losses on Monday and fell to their lowest levels in almost 16 years.

The conglomerate’s shares declined as much as 2.7 percent to 11.03 euros per share, their lowest level since Aug. 11, 2003.