Government plans to sell British Steel to the Chinese firm Jingye would probably lead to job losses, according to trade union officials who met the prospective buyers this week. Detailed discussions will now take place to fully understand Jingye’s plans and complete a deal. Jingye was named as the preferred bidder for British Steel after an offer from the Turkish military pension fund Oyak collapsed in October. “The UK steel industry is teetering on the edge of collapse,” she said. We firmly believe in the opportunities at British Steel and are committed to its long-term future.”The Guardian has approached the government for comment.

Source: The Guardian January 10, 2020 14:37 UTC