Tata Steel set for trade union talks in UK.
A source close to the talks told the newspaper that Tata Steel and ThyssenKrupp could formalise the deal within weeks, even if the pension issue has not been resolved, but the tie-up would be contingent on resolving the pensions dispute.
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Indian steel giant Tata Steel is set for what are believed to be crunch talks with trade union representatives of its UK steelworks to settle the deadlock over a 15-billion-pound pension scheme for its workers, the main obstacle in its merger with German rival ThyssenKrupp.
The company has reportedly called two days of pension talks to try to secure a merger of its European operations with those of ThyssenKrupp.
According to ‘The Sunday Times’, the main focus will be on breaking a deadlock over a 15-billion-pound pension scheme the main obstacle to a rescue of its Port Talbot unit in Wales.
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