According to media reports, Britain's leading steel producer Tata Steel UK, subsidiary of India-based Tata Steel, has offered an equity stake of up to 50 percent to the UK government in recent weeks in order to secure a state loan worth around £900 million for its UK operations which include its steelworks at Port Talbot in South Wales, following the financial difficulties caused by coronavirus pandemic.
The company’s talks with the government regarding an emergency loan are reportedly far from being finalized.
The state is not willing to take a stake in any company which applies for an emergency loan, SteelOrbis understands.