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How Tata Steel's Europe ordeal has encouraged it to re-focus on India ops

In the first quarter of FY21, Tata Steel Europe's EBITDA loss was at Rs 626 crore, owing to a weak European market

In the first quarter of FY21, Tata Steel Europe’s EBITDA loss was at Rs 626 crore, owing to a weak European market
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In the first quarter of FY21, Tata Steel Europe’s EBITDA loss was at Rs 626 crore, owing to a weak European market

Ishita Ayan Dutt Kolkata
It is an acquisition. They (Tata Steel) are the ruler but it’s not like the (Normans and) Anglo-Saxons, Philippe Varin, then chief executive officer of Corus Group, had said in response to a question on how the relationship between the companies could be defined after the £6.2 billion acquisition. 

The year was 2007 and Varin was in Jamshedpur for Tata Steel’s centenary celebrations. Months before, Tata Steel had won the bid for Corus, making it, in one stroke, the world’s fifth-largest steel company. 
 
But 13 years and two black swan events — the global financial crisis and Covid-19 pandemic —

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First Published: Aug 26 2020 | 6:09 AM IST

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