Tata Steel may sell its UK assets to Excalibur Steel

Tata Steel   may sell its Tata Steel UK’s assets to Excalibur Steel which is backed by Welsh billionaire Terry Matthews, reports Kritika Saxena of CNBC-TV18, quoting sources.

Today Market Update- Sai Proficient
Today Market Update- Sai Proficient

The sources have also said that Excalibur Steel may offer 10 percent stake to Tata Steel UK employees but the final announcement is expected by the end of June. Excalibur is also looking at a bridge loan from the British government at lower interest rates to fund the takeover and may raise up to Pound 350 billion for the offer.

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