Tata Steel pauses sale of UK assets

Tata Steel has put the process of selling its major British assets on hold because of the uncertainty caused by the Brexit vote and surrounding pension liabilities and will now also look at forming a JV. The company had put its British operations up for sale in March, threatening thousands of jobs. The bids have also been reviewed in the light of the uncertainties caused by the UK referendum and the outcome of the UK Government´s consultation on the British Steel Pension Scheme.