- Jingye Group, which bought British Steel in 2020, is demanding compensation and reserving the right to international arbitration after the U.K. nationalized the company amid plans to close Scunthorpe’s blast furnaces.
- The U.K. says the takeover protects about 2,700 jobs and domestic steel supply for major projects and defense, and an independent evaluation will consider any compensation.
- China warns the move damages investor confidence and urges respect for contracts, while Jingye says it will pursue legal remedies.
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