Jingye on plans to acquire British steel company

China's Jingye Group said the deal to save British Steel and save thousands of jobs in Scunthorpe is progressing well. A spokesman for Jingye said, "Following the agreement signed on November 10, Jingye Group and the relevant authorities continue to make progress in securing the necessary permits to complete the deal and we remain confident that they will be achieved in the New Year."

However, there were facts in the media, on the basis of which it was argued that the proposed sale of the Scunthorpe factories and other British metallurgical assets to the Chinese Jingye group was close to collapse.