UK may support steel, but unlikely to nationalise Liberty

imageCommodities4 hours ago (May 25, 2021 06:05AM ET)

(C) Reuters. FILE PHOTO: The Liberty Steel flag flies over the steel plant in Dalzell, Scotland, Britain April 8, 2016. REUTERS/Russell Cheyne//File Photo

LONDON (Reuters) – Britain is considering all options for Liberty Steel after the collapse of its main lender Greensill Capital, but nationalisation was the least likely route, business secretary Kwasi Kwarteng said on Tuesday.

Kwarteng also told a parliamentary hearing that he was happy that Liberty owner Sanjeev Gupta announced that refinancing was proceeding of his UK steel assets.

Liberty Steel, which employs 3,000 people in Britain, said on Monday it was planning to sell three ‘non-core’ UK plants as part of a major restructuring.

UK considering all options for Liberty Steel, nationalisation unlikely- minister

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