Tata Steel negotiating with UK govt to secure £1B – report
Tata Steel Ltd. is currently in negotiations with the British government to secure a £1 billion loan for its United Kingdom operations, Sky News reported on Saturday.
The country’s biggest steel producer is offering an equity stake of up to 50% to the state, the news organization says, noting that the talks are tentative and that the possible agreement is far from finalization.
Tata Steek previously requested a £500 million loan from the government but was rejected due to a lack of a clear plan to stabilize the struggling business.
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