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Czech energy group hints at combined bid for British Steel and Speciality Steel UK

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The owner of the UK’s largest electric steelworks has said the government should find a single buyer for British Steel and Speciality Steel UK (SSUK), a move that would create the country’s biggest steelmaker. Sev.en Global Investments, owned by the Czech billionaire Pavel Tykač, said it not only plans to invest £100m in the UK – mainly in the electric arc steelworks in Cardiff it bought last year – but also has the ability to invest “hundreds of millions of pounds” more in Britain under its 7 Steel brand. Alan Svoboda, Sev.en’s chief executive, told the Guardian the government should look for a large company with a track record of steel production to take on British Steel’s plant in Scunthorpe, Lincolnshire , and the SSUK electric arc furnace operation in South Yorkshire, in a thinly veiled pitch for the government to consider 7 Steel as a potential buyer. The government took control of British Steel in April last year because of fears its Chinese owners were about to close the business.…

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