JSW Steel, India's second-largest private steel producer, may bid for British Steel Ltd after the company's liquidation advisor EY reached out to it, the Mint reported.
JSW is looking at the prospects and examining the proposal before putting in a formal bid, the report said citing a person aware of the development.
The British steelmaker was found to be insolvent last month following the collapse of talks between the British government and Greybull Capital, the private equity owner of British Steel, the report added.
British Steel's advisor EY has also reached out to other European steelmakers including Italy's Marcegaglia Group, AFV Beltrame Group and Acciaierie Venete, reported Reuters in an article published on June 5.
British Steel, which produces high-cost long steel products used in construction and rail networks, was put into compulsory liquidation on May 22, jeopardising 5,000 jobs at the company and a further 20,000 more in the supply chain.
When Mint contacted JSW Steel, a spokesperson said the company does not comment on market rumour and speculation.
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