Tata Steel UK not willing to split assets to secure sale: CEO

  • Reuters, London
  • Updated: Apr 28, 2016 16:39 IST
Tata Steel plant in Scunthorpe, northeast England. (AFP Photo)

Tata Steel is not prepared to split up its main British assets, such as its Port Talbot steel plant, as part of a plan to divest its UK steelmaking operations, UK CEO Bimlendra Jha told a committee of lawmakers on Thursday.

“We would not deal with ... somebody saying leave alone Port Talbot and give us the rest - that is not a solution that’s acceptable,” said Jha. He added that the company might consider selling off small independent assets individually.

Tata Steel had put up for sale its loss-making business in Britain, putting thousands of jobs at risk and potentially forcing the David Cameron government to seek a solution ahead of an EU referendum dominated by concerns about the economy.

Europe’s second-largest steelmaker that employs 19,000 people across 14 sites in Britain made the announcement in March after a marathon board meeting in Mumbai.

(With inputs from HT Correspondent)

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