BEIJING/LONDON (Reuters) -- China's Jingye Group said on Monday it has reached a provisional deal to buy British Steel and promised to invest 1.2 billion pounds ($1.5 billion) over the next decade and save thousands of jobs.
An agreement is of major political significance as Britain prepares to elect a new government on Dec. 12. The lack of opportunities in northern England, where British Steel is based, is an election issue, as the social gap between north and south widens.
