Tata's UK steel plants worth 'almost zero'

March 31, 2016 16:26

In other news, the race to save Tata Steel's British operations could leave the UK Government temporarily owning the troubled firm's factories, ministers suggested yesterday as potential bidders start to weigh up their chances of rescuing the ailing industry.

Tata has fired the starting gun on a sale of its entire UK business, which employs 15,000 people, after the group's board in India dismissed its own rescue plan as "unaffordable' and "very risky'.

The firm has written off more than 5bn since it took over Corus in 2006, and its finance director Koushik Chatterjee said the British assets were now valued at "almost zero'. Read more

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