UK govt willing to acquire 25% stake in Tata Steel plants

London: The UK government today announced it is willing to acquire 25 per cent stake in Tata Steel's UK
operations to help potential buyers eyeing ownership of the Indian steel giant's loss-making plants.

Representational image. Reuters

Representational image. Reuters

The money "worth hundreds of millions of pounds" is being put up jointly by the UK and Welsh governments and will be made available to potential buyers as part of a support package for the crisis-hit steel industry, according to the business department here.

Business Secretary Sajid Javid had earlier said any money would be offered on commercial terms, quashing talks of nationalising the industry.

At least two potential buyers have shown interest in buying the business.

One option is a management buyout backed by the chief of Tata's Port Talbot factory, the UK's largest steel operation, the BBC reported.

Steel company Liberty House, owned by Indian-origin Sanjeev Gupta, has also said it was interested in buying parts of the business.


Updated Date: Apr 21, 2016 19:43 PM

Also Watch

It's A Wrap: Omerta star Rajkummar Rao in conversation with Parul Sharma
  • Thursday, April 26, 2018 In the Kanjarbhat community, a campaign against 'virginity tests' is slowly gaining ground
  • Thursday, April 19, 2018 Watch: National-level skater and coach Dhwanit Rele trains and nurtures budding athletes
  • Monday, May 14, 2018 FOMO Episode 1: Google Assistant, This is America, Sonam's wedding & Global Warming
  • Saturday, May 19, 2018 Social Media Star: Rajkummar Rao and Bhuvan Bam open up about selfie culture, online trolls