Tata Steel responds on EU asset sale rumours

Tata Steel this week has responded to an official request for clarity issued by the National Stock Exchange of India over the ongoing rumours that the company is close to selling some of its European assets, Kallanish reports..

In a note sent to the exchange, the company said that it “regularly evaluates strategic opportunities across various segments of its operations in different geographies.”

“The company is from time to time involved in discussions on strategic perspectives for its business activities. Such discussions are ongoing management tasks and we do not comment on such discussions,” Tata Steel added, noting that accurate disclosures will be made when needed.

Rumours on the possibility that Tata Steel Europe was ready to sign as early as this week an agreement for the sale of its Dutch assets to SSAB have circulated again in the market. It is worth noting, however, that rumours surrounding potential joint ventures and asset sales regarding Tata Steel Europe have been circulating for many years, intensifying further as soon as the prospect of creating a new JV with thyssenkrupp ended back in 2019.