Tata Steel Extends Losses Before Board Meeting on U.K. Asset Sale — Market Talk

0531 GMT [Dow Jones] India’s Tata Steel (500470.BY) extends losses as investors are cautious ahead of a crucial board meeting to decide on the sale of its U.K. assets. There have been media reports that the steelmaker, one of the biggest in the world, may halt its sale temporarily due to lack of interest among some buyers after the U.K.’s decision to leave the European Union. Tata Steel stock fell 4.9% on Thursday and is now down 0.3% at 316.65 rupees. U.K. Business Secretary Sajid Javid is also likely to meet Tata Steel executives in Mumbai today. Tata Steel had said in April that it wants to sell its U.K. operations, citing severe funding problems and blaming a global glut of steel and high manufacturing costs. (debiprasad.nayak[a]wsj.com)

 
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