Arab Today, arab today indias tata steel considers bids for british assets
Last Updated : GMT 21:46:51
Arab Today, arab today
Arab Today, arab today

India's Tata Steel considers bids for British assets

Arab Today, arab today

Arab Today, arab today India's Tata Steel considers bids for British assets

Tata Steel, Britain's biggest steel employer
Mumbai - AFP

Britain's business minister Sajid Javid met Tata Steel bosses in Mumbai ahead of a crunch board meeting on Wednesday expected to discuss potential buyers for its loss-making UK assets.

Tata Steel, Britain's biggest steel employer, announced in March that it planned to sell its Port Talbot plant in Wales and other assets, putting 15,000 jobs at risk.

Javid held discussions with Tata Group chairman Cyrus Mistry late Tuesday, a day after a deadline passed for interested parties to submit bids to acquire Tata Steel's struggling British steelworks.

"Met Tata in Mumbai today to discuss #steel sales process. Several credible bidders in play. Determined to keep momentum & find right buyer," Business Secretary Javid wrote on Twitter after the meeting.

Tata Steel said it was selling its loss-making British assets due to a global oversupply of steel, cheap imports into Europe from countries including China, high costs and currency volatility.

The move heaped pressure on British Prime Minister David Cameron's government, which has been racing to find a buyer to safeguard the iconic British steel industry, which dates back to the 19th century.

Earlier this month the company said it had selected seven bidders to proceed to the next stage, without identifying who they were.

Tata Steel's board is expected to discuss which of those bids to shortlist during Wednesday's board meeting at the company's headquarters at Bombay House. 

Metal processing company Liberty House has previously expressed interest while a management buyout team under the name Excalibur is also believed to be in the running.  

Tata Steel will also announce its quarterly earnings following the board meeting.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today indias tata steel considers bids for british assets Arab Today, arab today indias tata steel considers bids for british assets

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today indias tata steel considers bids for british assets Arab Today, arab today indias tata steel considers bids for british assets

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday