Tata has put its loss-making UK steel operations up for sale after a crunch board meeting in Mumbai on Tuesday. Tata's UK businesses include a steel making plant in Port Talbot employing 4,000 staff. Tata said it would "explore all options for portfolio restructuring, including the potential divestment of Tata Steel UK, in whole or in parts". The firm said: "Given the severity of the funding requirement in the foreseeable future, the Tata Steel Europe Board will be advised to [...] implement the most feasible option in a time-bound manner".
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