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Tata Steel plans London listing
February 01, 2007 18:17 IST
The move could raise hundreds of millions of pounds to help offset the huge debt Tata has piled up to secure the Anglo-Dutch steel company, The Daily Telegraph stated.
The Indian firm is working with Merrill Lynch and Morgan Stanley, the investment banks, on a series of financing options, the report said.
After a three-month bidding war with Brazilian steel rival CSN, Tata Steel secured Corus following an eight-hour auction that ended in the early hours on Wednesday.
The report quoted B Muthuraman, managing director of Tata Steel, saying the company would look at a range of "financial instruments" before deciding on any fund-raising.