WTF is wrong the government allowing such madness?
This commenter nailed it.
source: Turkish army pension fund to buy British Steel - BBC News
This commenter nailed it.
So, we are allowing the military arm of a dictatorship buy in to a strategic UK asset. Good grief.
Turkey's military pension fund has reached a tentative deal to buy British Steel out of insolvency.
The Turkish Armed Forces Assistance Fund (known as Oyak) says it plans to take over British Steel, which employs 5,000 people, by the end of the year.
British Steel owns the Scunthorpe steel works where 3,000 people work and it employs another 800 on Teesside.
But the firm was put into compulsory liquidation in May after rescue talks with the government broke down.
Another 20,000 jobs in the supply chain were put at risk by the collapse of the talks between the government and British Steel's owner, Greybull, prompting a parliamentary inquiry.
The company was transferred to the Official Receiver because British Steel, its shareholders and the government were not able to, or would not, support the business.
The Turkish Armed Forces Assistance Fund (known as Oyak) says it plans to take over British Steel, which employs 5,000 people, by the end of the year.
British Steel owns the Scunthorpe steel works where 3,000 people work and it employs another 800 on Teesside.
But the firm was put into compulsory liquidation in May after rescue talks with the government broke down.
Another 20,000 jobs in the supply chain were put at risk by the collapse of the talks between the government and British Steel's owner, Greybull, prompting a parliamentary inquiry.
The company was transferred to the Official Receiver because British Steel, its shareholders and the government were not able to, or would not, support the business.
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