Tata Steel offers UK govt big stake in Wales plant
The company has been going through a financial stress of late. The auditors of Tata Steel had raised concerns regarding the 'material uncertainty' of its European arm due to the Covid-19 pandemic's severe impact on its financials, in the company's January -March quarter earnings.
Tata Steel is reportedly in talks with the UK government and has offered up to 50 per cent stake in Port Talbot steelworks in Wales for around 900 million pounds or $1.15 billion. Photo: Reuters