Steel tycoon holds ‘urgent’ talks to save UK factories from nationalisation

Steel tycoon Sanjeev Gupta is holding “urgent” talks to try and stave off the nationalisation of his plants in Rotherham and Bolton after creditors agreed to a last-minute delay of their winding-up petition to July 16 to allow Mr Gupta to attempt to negotiate a sale. If deal talks fail, the threat of compulsory liquidation would be revived and the Rotherham and Bolton factories, which employ 1,450 people, could be nationalised.

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