The news items that appeared today (May 18, 2015) are drawn from the Sunday Times report of May 17, 2015, which is speculative and does not contain comment by or on behalf of the Company.
The Exchange had sought clarification from Tata Steel Ltd with respect to news article appearing in DNA on May 18, 2015 titled "Tata Steel nears UK plants sale to Swiss tycoon"
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Tata Steel Ltd clarified that Company on October 15, 2014 informed the exchange that its European business had signed a Memorandum of Understanding with Klesch Group to undertake detailed due diligence and negotiations for the potential sale of its Long Products Europe business and associated distribution activities.
The above process continues. The news items that appeared today (May 18, 2015) are drawn from the Sunday Times report of May 17, 2015, which is speculative and does not contain comment by or on behalf of the Company.
The Board and Management of Tata Steel is committed to making disclosures at the appropriate time. The Company has robust disclosure principles and follows a policy of not commenting on market speculation.
In the instant matter, we clarify that currently there has been no event that requires additional disclosure (apart from what has already been disclosed) under Clause 36 of the listing agreement."
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