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)