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EUROFER Seeks Scrutiny of Jingye bid for British Steel

Steel News - Published on Fri, 15 Nov 2019

Image Source: euractiv.com
European steel lobby EUROFER plans to raise concerns over Chinese group Jingye's proposed purchase of British Steel with the European Commission, saying the deal may flout rules on fair competition. Mr Axel Eggert, director general of EUROFER told Reuters that "We need to be sure there is no state aid contribution by the UK government which could be considered as not in line with EU state aid rules.”

EUROFER said the planned purchase is a fresh instance of China exporting excess steel capacity to the edge of the European Union.

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Posted By : Rabi Wangkhem on Fri, 15 Nov 2019
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