Tata Steel UK 'pause' frustrating
Indian-origin businessman Sanjeev Gupta-led Liberty House Group on Tuesday expressed "frustration" over reports that Tata Steel plans to "pause" the bidding process for most of its UK steelworks, but made it clear that his company will carry on talks with the Indian steel giant. The UK-based international business specialising in metals trading and the manufacture and distribution of steel and advanced engineering products was reported to be among the frontrunners to acquire the Indian steel giant's UK units, including the largest plant at Port Talbot in Wales. Tata announced on Friday that it will put the auction on hold due to uncertainties triggered by Britain's vote to leave the European Union in the June referendum and explore a potential joint venture with German company Thyssenkrupp, among others strategic players in the industry.
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