Liberty House still interested in Tata's UK business despite Brexit

Jessica Morris
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Tata said no bidders had pulled out post Brexit (Source: Getty)

Liberty House is still interested in snapping up Tata Steel's UK assets despite Brexit, City A.M. understands.

It follows reports suggesting several bidders are close to abandoning talks with the Indian conglomerate, after Britons voted to leave the European Union on Thursday.

An industry source told City A.M. that they wouldn't be surprised if this was the case.

Read more: Iain Duncan Smith says new prime minister should be a Brexiteer

Sky News reported that the outcome means billionaire tycoon Wilbur Ross, one of several bidders eyeing Tata's UK business, is unlikely to pursue a takeover.

"Wilbur has been reasonably open that this deal is far less attractive if Brexit happens," they reported a person had discussed the Tata situation with Ross as saying.

But Tata told the BBC today that no bidders had pulled out in light of the referendum result.

A spokesman said: "Like the rest of the business world we will be taking the time to consider the implications of the verdict of the British people."

"We have received no notifications from any of the interested parties of any change in their position."

Read more: Tata Steel bidders could abandon takeover talks over Brexit impact

Leave clinched a victory by 52 per cent to 48 per cent in the referendum on Thursday. The turnout stood at 71 per cent, the highest UK-wide vote since the 1992 general election.

Over two million people have signed a petition for a second referendum. However, experts have branded the move a "waste of time".