France threatens to block a bailout deal that will save British Steel from collapse. French Finance Minister Bruno Le Marais told Chancellor Sajid Javid that he was against the sale of British steel to the Chinese industrial company Jingye Group. Mr. Le Maire opposes the transfer of ownership of strategic assets to Chinese firms. The French government has the power to veto any sale of the French plant.
But Jingye is offering to buy British Steel in total for about £ 50 million, and if the French reject the offer, it could stall the bailout and leave British Steel's future on the back again.
The Hayang plant, near the French border with Luxembourg, powers the French rail network, including state-owned train operator SNCF, and French authorities have the ability to block the deal.
France opposes Jingye acquisition of British Steel
|
Azovpromstal® 3 February 2020 г. 09:38 |
