Tata Steel 'to move quickly' in sale process

Tata Steel has said it will move quickly in the process of selling its UK operation.

Koushik Chatterjee, the company's finance director, said the decision to reject the turnaround proposal to save Port Talbot was taken after a lot of consideration but it was found to have significant risks.

Mr Chatterjee said the timetable for the sale was not open-ended and the company would "move quickly" in setting up the process.