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Bids for Tata UK 'encouraging': David Cameron

The British PM also said that there were no guarantees of a successful conclusion

Reuters  |  Nagoya (Japan) | London 

Tata Steel has received an encouraging number of serious offers for its British assets Prime Minister David Cameron said on Wednesday but also said there were no guarantees of a successful conclusion. Britain's steel industry has been hit by cheap Chinese imports, high energy costs and a global supply glut. In March, Tata said it wanted to sell its loss-making operation in the country, putting 15,000 jobs at risk. Tata's decision has turned the spotlight on the global steel market and the impact of Chinese exports that could lead to protectionist trade policies. The ...

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First Published: Wed, May 25 2016. 19:00 IST