According to SkyNews report, Tata Steel has presented proposals to Whitehall in recent weeks aimed at securing a state injection of close to £1B into its UK operations.
Reportedly, Tata Steel’s Indian parent Tata Group will hand an equity stake of up to 50% to UK taxpayers – amounting to a semi-nationalisation of Britain’s largest steelmaker as it battles the impact of the coronavirus pandemic.
The SkyNew report also further said, the talks are at a tentative, rather than the concrete, stage, and the structure of any deal, as well as the size of any financial contributions, remain far from being finalised.
At around 2.29 pm, Tata Steel was trading at Rs350.95 per piece higher by 1.42% on Sensex. The stock has touched an intraday high and low of Rs353.40 per piece and Rs344.50 per piece, respectively.
