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