As Britain has voted to exit from the European Union, India-headquartered steel giant Tata Steel Group’s sale process for its UK operations could be postponed since investors might not want to invest in an uncertain environment, according to media sources.
The UK went to the polls yesterday to decide whether to leave the European Union. According to the results, a majority of the people have voted to leave the EU.
Media sources had announced earlier this week that Tata Steel is considering the sale of its specialty steel business located in both Rotherham and Stocksbridge and the tubes business in Hartlepool, if it finalizes a deal with the UK government to keep the Port Talbot steelworks in Wales.