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France can block the sale of British Steel to the Chinese

Main / Europe

Previously, the intention in every way to prevent the sale of the second largest metallurgical enterprise in the UK by a Chinese group Jingye said in the European steel Association EUROFER.

France can block the sale of British Steel to the Chinese

FranFrance, the government can block the sale of the second largest metallurgical enterprise of Chinese UK British Steel group Jingye. This was stated by the Minister of economy of France Agnes Annie Runser.

According to the Minister, the government will not consent to the sale until the "no guarantee" for the French division of the British Steel smelter France Rail, which is the major supplier of rails for the French rail network.

In the UK and there are fears that this deal may lead to loss of business at the plant of British Steel in Scunthorpe.

last month Jingye agreed on the agreement with the British government about saving British Steel, but the plan caused concerns about national security amid claims that he can give the Chinese Communists political leverage in the UK.

last week Pannier-Runser said that the deal could be blocked if the French "do not have all the guarantees".

It also noted that the European steel industry lobbyists fear that cheap Chinese steel is a major problem for the industry.

Previously coalsalesthe intention of the European steel Association EUROFER block agreement with the Chinese, rightly suspecting the Communists in an attempt to transfer their excess capacity to other countries and, in particular, to Europe.

Recall that the deal to sell British Steel after the bankruptcy in March of this year under mysterious circumstances, it may be one of the longest in British history.

During the trades, the British government spent for the maintenance lawyers EY, salary payments and the supply of troubled companies more than 70 million pounds, before refusing to loan to British Steel for £ 30 million, and that was the reason for the bankruptcy.

last week, interest in buying British Steel expressed the commodities magnate Sanjeev Gupta specializing in acquisitions of distressed steel assets around the world.

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