JSW Steel trashes media reports of bidding for Liberty Steel assets

JSW Steel has trashed media reports that it is mulling a bid to acquire Liberty Steel assets in the UK.

Liberty Steel is the steel manufacturing business of Sanjeev Gupta’s GFG Alliance.

The Indian steelmaking company said that reports stating that it is interested in bidding or buying the assets are speculative and are also misleading and mischievous.

JSW Steel stated: “We have made and will continue to make disclosures in compliance with our obligations under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and our agreements with the stock exchanges.”

JSW Steel trashes media reports of bidding for Liberty Steel assets. Photo courtesy of Hands off my tags! Michael Gaida from Pixabay.

Earlier this month, JSW Steel executed a memorandum of understanding (MoU) with JFE Steel to undertake a feasibility study for establishing a grain oriented electrical steel sheet manufacturing and sales joint venture firm in India.