Tata Steel Britain unit sale process to begin Monday: UK Minister

Tata Steel will begin the formal process to sell its UK units by Monday, British business minister Sajid Javid tweeted after a two-hour meeting with the company’s chairman Cyrus Mistry at Bombay House, the Tata Group’s headquarters, on Wednesday. This was Javid’s first meeting with Mistry after Tata Steel, UK’s biggest steel producer, announced its exit from the country. The minister received flak for being on a business-cum-leisure trip in Australia when Tata Steel last week declared its intention to pull out of all its UK operations which could lead to thousands of job losses.