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Tata Steel Continues to Negotiate Joint Venture Partnership for U.K. Strip Business
10/28/2016 - The ouster of Cyrus Mistry as chairman of Tata Group's holding company has renewed questions over the fate of Tata Steel's European arm. Nevertheless, the company is continuing to pursue a merger of its U.K strip business and a separate sale of its specialty steel business there, the company said on Friday.
"The talks with thyssenkrupp AG for a potential joint venture of its European steel business are currently ongoing and progressing," the company said in a statement. "Tata Steel would also like to reaffirm that it is currently pursuing a separate process for the potential sale of the South Yorkshire-based Specialty Steels business," it added.
The company had said as much during a closed-door briefing with analysts on Thursday, according to the Reuters news service.
Reuters has more on that story here.
The company had said as much during a closed-door briefing with analysts on Thursday, according to the Reuters news service.
Reuters has more on that story here.
