Indian conglomerate Tata Steel released a recent statement saying it "continues to responsibly develop options to identify the best prospects for the future sustainability of our United Kingdom operations and the best outcome for members of the British Steel Pension Scheme." It is said they have called two days of pension talks to try to secure a merger of its European operations with German rival Thyssen Krupp's.
A source said both the companies could formalise the deal within weeks, even if the pension issue remains unresolved. Former prime minister David Cameron's government had proposed a change in legislation to reduce payouts by altering the inflation link to wage hikes.
