• Tuesday, May 24, 2022

News

Liberty House to submit bid for Tata Steel UK

Liberty’s Executive Chairman Sanjeev Gupta keen to buy Tata Steel’s British assets

By: Eastern Eye Staff

Metals group Liberty House will submit a letter of intent to buy the British assets of Tata Steel on Tuesday, a spokeswoman said, in the first concrete bid since the Indian conglomerate put the business up for sale, threatening thousands of jobs. India’s Tata group announced plans to sell its entire UK steel operation in March, leaving the government battling to save an industry that has been hurt by cheap Chinese imports, soaring costs and weak demand. Keen to avoid the loss of 10,000 jobs, the government has offered hundreds of millions of pounds in support to potential buyers, including…

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