Indian-origin tycoon submits bid for Tata Steel’s UK assets

London: Indian-origin businessman Sanjeev Gupta’s Liberty House Group said it had submitted its letter of intent to acquire Tata Steel’s loss-making UK assets. The company described this as an “indicative bid for the entire issued share capital of Tata Steel UK,” central to which is the Port Talbot steelworks in south Wales — the UK’s largest and employs around 4,000 workers. “The document, which was sent from Liberty’s global headquarters in London, states the company’s intention to bid for all of Tata Steel's UK assets, excluding its Long Products division which is in the process of being sold separately and the Scottish Plate Assets that Liberty already acquired from Tata,” the firm said.  PTI