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Tata Steel 'will not publicly name potential bidders'

Tata will not confirm any potential bidders. Credit: PA

Tata Steel say they will not publicly name or confirm any potential bidders for the firm's UK assets.

ITV News correspondent Rupert Evelyn tweeted:

Welsh Govt has discussed Port Talbot management buyout with Tata's Stuart Wilkie

First Minister of Wales Carwyn Jones says he spoke to Stuart Wilkie on Wednesday morning to discuss the proposed management buyout of the Port Talbot steelworks.

News of a potential buyout of the Port Talbot steelworks broke on Tuesday night Credit: PA

"I made it clear that we stand ready to support any bid that will keep the steel industry alive in Wales, and we agreed to a meeting as soon as possible to discuss this option in more detail.

Edwina Hart will travel to Brussels again tomorrow to take part in the European Steel Day, organised by the European Steel Association. She will be there to discuss further action available at a European level, including reforms to the European Unions Emissions Trading System and the impact of the slowdown of Chinese economic growth.

We have committed to doing everything we can to keep these plants open, and that work goes on - here in Wales and on the international stage."

ends

– Carwyn Jones, First Minister

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Wood: Buyout offers 'best hope' for Welsh steel

Port Talbot. Credit: PA

Plaid Cymru leader Leanne Wood has welcomed reports that a senior manager at Port Talbot steelworks is planning a management buyout of the plant.

She says the development "represents the best hope of safeguarding the future of the Welsh steel industry", and has urged the government, unions and the public to support the bid.

I urge all bodies in Wales - government, unions and the public - to get behind Tata's team and support them in any way possible to ensure that their endeavours succeed.

The UK Government must also step up and bring forward the financial support required to make this management buyout a feasible solution to the crisis.

– Leanne Wood, Plaid Cymru Leader

Steel worker feeling positive about potential buyout

Graham Rowlands has worked for Tata steel for 37 years and told Good Morning Britain he believes a management buyout would be the best option.

When asked whether he would consider investing in the site he replied:

"I think putting money into the business that's going to create a future for the community and the workforce would be of benefit to everybody."

A potential buyout of the Port Talbot steelworks is to be led by one of its most senior staff, ITV News understands.

Stephen Kinnock: 'Management buyout right way to go'

Welsh Labour MP Stephen Kinnock has told Good Morning Britain he feels a management buy-out is the right way to go in principle.

Welsh Labour MP, Stephen Kinnock has shared his views on the Port Talbot management takeover bid.

He also told Piers and Susanna that the Government must act and provide the right support.

Ever since Tata Steel decided to sell its Strip Products UK business I have felt that a management buy-out, based on the proposals that are outlined in the turn-around plan, was the right way to go in principle. I know that the workforce stands ready to work with all potential investors, and I would urge government to stand ready to provide the necessary support. There are a number of credible buyers in the market, but sustainable success will only be achieved if the government starts to deliver something tangible on dumping, energy, procurement and business rates.

– Stephen Kinnock, MP

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Welsh secretary will visit Tata's plant in Shotton

Credit: PA Images

Welsh secretary Alun Cairns will be making a visit to Tata's plant in Shotton, which currently employs 650 people.

His visit comes exactly a week after the company was officially put up for sale by its Indian owners, who have five sites in Wales.

The Business Secretary Sajid Javid will also be holding talks in Brussels today with ministers from China, India and 27 other nations.

The UK Government say they are ready to co-invest with any potential new owner of Tata Steelworks to save thousands of Welsh jobs.

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