In a possible tweak to its strategy, Tata Steel may retain up to 30 percent of its shareholding in its South East Asian units, which had been put on the block.
Sources told Moneycontrol that the slight tweak means that Tata Steel is now looking for a partner and not a downright buyer. The units include the Singapore-based NatSteel Holdings and Tata Steel (Thailand).
Earlier this week, media reports said the steel major was in talks with China’s Hesteel Group. The Chinese company is the second largest steelmaker in the country. Read More