Tata Steel ‘still in talks’ about a state bail-out and de­nies it may sell Jaguar

The Daily Telegraph - Business - - Business -

◆ Tata Steel could still get a state bailout with the coun­try’s big­gest steelmaker con­tin­u­ing to dis­cuss po­ten­tial sup­port pack­ages with the Gov­ern­ment, writes Alan Tovey.

The com­pany – a sub­sidiary of In­dian con­glom­er­ate Tata, which also owns Jaguar Land Rover – has re­but­ted claims that it has aban­doned talks about a bailout.

The Fi­nan­cial Times first re­ported that dis­cus­sions about aid through “Project Birch”, the gov­ern­ment scheme to sup­port com­pa­nies seen as struc­turally im­por­tant to the UK econ­omy, had ended.

The story has been dis­missed as “base­less” by one in­sider at Tata Steel, which em­ploys about 8,000 staff in the UK, the bulk of them at its gi­ant plant in Port Tal­bot, south Wales.

In a state­ment the com­pany said: “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.”

Tata also said it “cat­e­gor­i­cally de­nies” re­ports that it could sell a stake in Jaguar Land Rover.

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