UK considering options for co-investment in Tata's steel assets

Britain is considering a number of different options to co-invest in the purchase of steel making assets put up for sale by Indian conglomerate Tata Steel, Business Secretary Sajid Javid said on Tuesday.

The government is under pressure to keep Tata's British steel plants open after Tata said last month that it was selling up in Britain.

"The key point is any investment would have to be on commercial terms. Investment can take a variety of forms - for example it could be debt," he said.

"I don't think it would be prudent to go into detail on that, but the goal is to find a commercial buyer with the government helping to secure that transaction."

Earlier, a source said the most likely form of government support was a state loan, made on commercial terms alongside other investors. The source said there was only a remote possibility that the government would take an equity stake in the business.