Tata Steel may demerge UK, Dutch units
Tata Steel units in the UK and Netherlands may be on the verge of breaking apart, some 20 years after British Steel merged with Dutch steel major Hoogovens to form Corus. With the British arm of the company reportedly seeking state support of £500 million, or about Rs 4,700 crore, “a breakup would appear to be inevitable to make sure British taxpayers’ money does not end up in the Netherlands”, a recent Dutch media report said. The spokesperson for Tata Steel's European operations said, “We recognise the uncertainties caused by this unprecedented pandemic. But we are one company and we believe in the value created for our customers by the combination of our businesses.”
Tags : INTERNATIONAL Tata Steel UK Netherlands Dutch pandemic British taxpayers steel major Hoogovens Tata Steel's European