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China's Jingye enters sale contract with British Steel

Reuters - UK Focus
Updated

LONDON, Nov 11 (Reuters) - China's Jingye Steel has entered into a "sales contract" to buy the assets of British Steel but the deal has not been finalised, British officials said on Monday. The Official Receiver did not give a price but said the two sides had reached a provisional agreement. Britain's Business Minister Andrea Leadsom said in a video clip posted on Twitter that the takeover was not finalised but she was optimistic that it would go ahead.

(Reporting by Kate Holton; editing by Michael Holden)