TATA STEEL SEEKS ALTERNATIVES TO UK ASSET SALE
The board of directors at Tata Steel Ltd has decided to seek strategic joint ventures with leading international steel makers for its European business after the sale of its UK assets hit a roadblock owing to uncertainty stemming from Britain’s decision to exit the European Union.After a board meeting that lasted several hours on Friday, Tata Steel said it had decided to evaluate “alternative and more sustainable” solutions for the European business.“Consequently, Tata Steel has now entered into discussions with strategic players in the steel industry including Thyssenkrupp AG,” the statement issued late on Friday night said.