Tata Steel to hold pension talks in UK

LONDON: Indian steel giant Tata Steel is set for what are believed to be crunch talks with trade union representatives of its UK steelworks to settle the deadlock over a 15-billion-pound pension scheme for its workers, the main obstacle in its merger with German rival ThyssenKrupp.

The company has reportedly called two days of pension talks to try to secure a merger of its European operations with those of ThyssenKrupp. According to 'The Sunday Times', the main focus will be on breaking a deadlock over a 15-billion-pound pension scheme the main obstacle to a rescue of its Port Talbot unit in Wales.