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Caixin Global
Caixin Global

Business Brief (July 20): U.K. Nationalizes British Steel as Chinese Owner Cries ‘Robbery’

British Steel IKEA China Hong Kong IPO

British steel nationalization

The U.K. government nationalized British Steel, which was previously controlled by China’s Jingye Group. Jingye said the move was “robbery” and a trampling of the international rule of law, noting that it reserves the right to seek compensation.

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