Tata Steel Ltd. proposed a UK deal worth about £ 1bn
Tata Steel Ltd, an Indian multinational steel-making company, against the background of new forecasts, offered a deal for the UK. The company is ready to receive £ 1bn from the government in exchange for a 50% part of the enterprise. The proposal assumes that the Indian company will write off a similar amount of debt to the British business.
The Treasury declined to comment on Sky’s report.
Tata employs 8000 people, whose jobs place are trying to save, using loans. U.K. Chancellor of the Exchequer Rishi Sunak has said he will set an “exceptionally high” bar for companies seeking taxpayer-funded bailouts during the coronavirus pandemic, as reported Bloomberg.