Tatas to freeze auction |
Tata Steel is set to freeze auction of its UK steelworks while it assesses the fallout of the Brexit vote.The Mumbai-headquartered steel giant had announced plans to auction its Port Talbot steelworks in Wales earlier this year.However, the board is yet to make a formal decision but is under less pressure to sell after a jump in steel prices, which has cut losses at the south Wales site, the report said.The company will reportedly stall the auction to await the outcome of a UK government deal to cut its 14 billion pound pension liabilities as well as talks on EU trade deals.
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