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n1 [soylentnews.org] writes:

Britain's efforts to help find a buyer for Tata Steel's UK assets will comply with European Union state aid regulations, business secretary Sajid Javid said on Sunday, insisting any deal would not be a bailout or nationalization.

Indian conglomerate Tata said last month that it planned to sell its entire British steelmaking operation. The prospect of at least 10,000 job losses has prompted the government to offer financial support in the hope of securing a buyer.

Javid said last week that the government could take a 25 per cent equity stake as part of a support package worth hundreds of millions of pounds.

In an interview with the Sunday Times, he said any deal would be structured to avoid running foul of EU rules on state aid.

Source: The Times of India [indiatimes.com].

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