According to the Financial Times, an agreement with Ataer Holding, a unit of Turkey’s military pension fund, failed to materialize because some major suppliers to the integrated steelmaker refused to accept price cuts.  

Nevertheless, talks with Ataer are continuing as other potential bidders kick the tires on the business, including Jingye, the U.K. Insolvency Service said in a statement. 

“While discussions with Ataer are continuing, discussions with other parties who have expressed continued and renewed interest in acquiring the whole British Steel business will now be possible,” the service said. “Ataer remains very much interested in acquiring the business, and we remain in detailed discussions with them to conclude a sale,” it said.