Chinese Firm Seeks Compensation Over British Steel Nationalisation
A Chinese company is demanding compensation from the United Kingdom following the nationalisation of British Steel. The firm is seeking redress for the financial impact of the government's decision.
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Chinese firm seeks compensation over British Steel nationalisation
Jingye said it will take action "through legal means to the very end" after the UK government nationalised British Steel.
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The Chinese company that formerly owned British Steel demanded on Sunday compensation from the UK government for investment losses following the nationalisation of the manufacturer last week. The British government took operational control of the company last year after Jingye Group said it was considering closing the blast furnaces at its Scunthorpe plant in northern England, the last in the United Kingdom to make “virgin steel” from raw materials. Jingye Group said in a WeChat statement tha...
By Associated Press
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