Bidder 'hopeful' of Tata UK steelworks deal

A bidder for three Tata UK steelworks hopes to reach a deal "within weeks", industry sources have told the BBC.

Liberty House is looking to purchase the steelworks in Rotherham, Stocksbridge and Hartlepool, which employ about 2,500 people.

Liberty has already bought Scotland's last major steelworks from Tata, which it reopened on Wednesday.

However, Tata said talks were still under way with a number of possible bidders for the English sites.

A spokesman for the Indian steel giant said: "Talks are continuing over the potential sale of our specialist steel business in South Yorkshire and our pipe-making business in Hartlepool."

It is in discussions with "a number of parties in each case", he said.

'Working hard'

Liberty House founder Sanjeev Gupta told the BBC: "We are bound by some process but it's public knowledge that we are working hard to complete on those."

The company declined to comment on details of the bid or when a deal might be agreed.

Reuters reported the Liberty bid could be worth £100m for the three steelworks.

One source told the BBC that Liberty was "very close" to agreeing a deal.

Liberty was one of the first bidders for Tata's UK steel business, including Port Talbot - the UK's biggest steelworks - when it was put up for sale earlier this year.

In July, Tata entered negotiations with German rival Thyssenkrupp about a European merger, but has continued to talk to other potential buyers of the Rotherham, Stocksbridge and Hartlepool sites.