Cengiz on standby to buy British Steel if Jingye bid fails
(The Guardian China)

Sale to Chinese firm could stall amid fears of cuts to jobs and employment benefitsThe government is holding talks with the Turkish conglomerate Cengiz Holdings about stepping in to buy British Steel in the event that a planned sale to the Chinese industrial firm Jingye falls through.Officials remain confident that Jingye´s £50m purchase of British Steel, including the Scunthorpe steelworks, will go ahead in the next few weeks, saving about 4,000 jobs in the ailing industry. Continue reading...