You are here: Home » Companies
Business Standard

UK unions wait for Tata Steel reasoning on Thyssenkrupp merger

In early July, the company announced cancellation of sale of its UK business and initiated talks with the German company for a possible joint venture

Aditi Divekar  |  Mumbai 

This is article Banner

A meeting with Tata Steel officials in Britain was adjourned on Wednesday after company officials failed to provide the reasoning for it considering a merger with Germany-based Thyssenkrupp AG, trade union sources told this newspaper. In early July, the company announced cancellation of sale of its UK business and initiated talks with the German company for a possible joint venture for its entire Europe business, including the UK operations. “The meeting is now postponed to next Wednesday, where we hope to get more details and information regarding the talks with Thyssenkrupp,” said the source.

In March, Tata Steel had announced the sale of its 10.5 million-tonne UK business, of which it managed to do away with the 4.5 mt long products unit to Greybull Capital. In May, seven formal Expressions of Interest were taken forward to the next stage of a possible sale process. Eventually, the company scrapped its plan to sell the UK unit and has engaged in talks with Thyssenkrupp for a possible joint venture.

MONTHLY STAR

Business Standard Digital

Business Standard Digital Monthly Subscription
149.00  
subscribe
Complete access to the premium product
Convenient – Pay as you go
Pay using Master/Visa Credit Card & ICICI VISA Debit Card
Auto renewed (subject to your card issuer’s permission)
Cancel any time in the future
Requires personal information

What you get?

ON BUSINESS STANDARD DIGITAL

  • Unlimited access to all the content on any device through browser or app.
  • Exclusive content, features, opinions and comment – hand-picked by our editors, just for you.
  • Pick 5 of your favourite companies. Get a daily email with all the news updates on them.
  • Track the industry of your choice with a daily newsletter specific to that industry.
  • Stay on top of your investments. Track stock prices in your portfolio.
  • 18 years of archival data.

NOTE :

  • The product is a monthly auto renewal product.
  • Cancellation Policy: You can cancel any time in the future without assigning any reasons, but 48 hours prior to your card being charged for renewal. We do not offer any refunds.
  • To cancel, communicate from your registered email id and send the email with the cancellation request to assist@bsmail.in. Include your contact number for speedy action. Requests mailed to any other ID will not be acknowledged or actioned upon.

SMART MONTHLY

Business Standard Digital

Business Standard Digital - 12 Months
1499.00
subscribe
Get 12 months of Business Standard digital access
Single Seamless Sign-up to Business Standard Digital
Convenient - Once a year payment
Pay using an instrument of your choice - Credit/Debit Cards, Net Banking, Payment Wallets accepted
Exclusive Invite to select Business Standard events

What you get

ON BUSINESS STANDARD DIGITAL

  • Unlimited access to all content on any device through browser or app.
  • Exclusive content, features, opinions and comment – hand-picked by our editors, just for you.
  • Pick 5 of your favourite companies. Get a daily email with all the news updates on them.
  • Track the industry of your choice with a daily newsletter specific to that industry.
  • Stay on top of your investments. Track stock prices in your portfolio.

NOTE :

  • This product is a monthly auto renewal product.
  • Cancellation Policy: You can cancel any time in the future without assigning any reasons, but 48 hours prior to your card being charged for renewal. We do not offer any refunds.
  • To cancel, communicate from your registered email id and send the mail with the request to assist@bsmail.in. Include your contact number for easy reference. Requests mailed to any other ID will not be acknowledged or actioned upon.
First Published: Fri, September 02 2016. 00:38 IST
RECOMMENDED FOR YOU