Metals magnate Sanjeev Gupta’s efforts to sell his troubled Liberty Ostrava steelworks hit a setback as the Czech government said potential buyers had lost interest in taking over the company.
Gupta’s Liberty Steel has been looking to divest its Czech operations after a court declared the dormant unit with about 5,000 employees insolvent and an overhaul strategy failed. But late on Thursday Finance Minister Zbynek Stanjura said there were no takeover offers for the company’s main business and that the state wouldn’t provide further major financial aid.
