Tata Steel denies ending bailout negotiations with UK authorities
Steelmaker Tata Steel Europe continues to negotiate with the UK government on the support the government can offer it during the Covid-19 pandemic, the company told Fastmarkets on Monday August 17.
The company denied the recent media reports that said the UK government’s bailout talks with Tata Steel had broke off.
“We remain in ongoing and constructive talks with the UK Government on areas of potential support. As these discussions have not reached a conclusion, it would be premature to comment on any options that may or may not be under consideration,” a Tata Steel spokesperson said.
“In the meantime, we will not respond to speculative and inaccurate media reports about the future of our operations in the UK or elsewhere,” the spokesperson added.
Tats Steel UK, is reportedly seeking a £500 million ($592 million) government loan to support operations through the Covid-19 crisis, Fastmarkets understands.