Tata Steel sale process to begin by Monday – British minister

Britain’s business minister said India’s Tata Steel will launch a formal process to sell its British plants next week and will provide for a reasonable time fame to find a buyer.

Sajid Javid was in Mumbai to meet the chairman of the Tata group after the Indian conglomerate said last week it planned to sell its British operations wholly or partly, triggering an avalanche of protest against Prime Minister David Cameron’s government.

The British government has said it would help find potential buyers as thousnads of jobs are stake.

Sajid said in a tweet that the meeting at the Tata headquarters was constructive and postive. “Formal sales process will begin by Monday – govt will do all it can to help secure a serious buyer,” he said on Twitter, adding that Tata Steel will allow a reasonable period to find a buyer.





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