Steel crisis latest

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Steel crisis latest

A management buyout of Tata Steel UK would result in an additional 1-thousand job cuts across the country, according to one of the bid teams.

Excalibur Steel is understood to be among at least five groups interested in taking over the Indian company’s remaining steel operations – including Corby.

It wants 10 per cent of its funding to come from employees and is also counting on support from the government.

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