Tata Steel not keen on any new acquisition as of now: Company CEO
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ANI
Vedanta Ltd said in June that it would immediately begin a review and evaluate a wide range of options, including a possible strategic sale of some or all of its steel businesses.
New Delhi. Tata Steel, a Tata group company, is not yet keen on any other new acquisition. Company’s Chief Executive Officer (CEO) TV Narendran made this statement at a time when Vedanta Limited is reviewing and evaluating its steel and steel making raw materials business. Vedanta Ltd said in June that it would immediately begin a review and evaluate a wide range of options, including a possible strategic sale of some or all of its steel businesses.
Asked about his company’s interest in buying Vedanta Ltd’s steel business, Narendran said, “We are not keen on any other new acquisition… We don’t need it.” He said Tata Steel’s existing There’s just too much to do on site. On Tata Steel’s UK-based operations, he said, “We are in talks with the UK government for a solution.” We would like to have a consensus with the government (there). Narendran said at the moment there is no problem in the UK, and production has not been affected. But the point is that the assets are old and they are not very reliable anymore.
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