British Steel set to be saved by Chinese buyer

Credit: PA - Press Association STUDIO
Published on November 11, 2019 - Duration: 00:33s

British Steel set to be saved by Chinese buyer

A Chinese industrial giant is set to come to the rescue of British Steel within days, buying out its embattled Scunthorpe plant and potentially saving 4,000 jobs, it has been reported.

After talks with a prospective Turkish buyer collapsed, the Jingye Group has become the leading contender to buy British Steel out of liquidation, with a buyout bid worth a reported £70 million on the table.


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