Tata Group Said to Consider Bidding for Australian Coal Producer New Hope

Bloomberg reported that Tata Group is considering an offer for New Hope (ASX:NHC) as it seeks to acquire coal assets.

As quoted in the market news:

Tata Steel Ltd., India’s largest producer of the alloy, and Tata Power Ltd. may jointly make an offer for Ipswich, Queensland-based New Hope, said the people, declining to be identified because discussions are at an early stage. Both Tata Steel and Tata Power require coal to run their plants.

Click here to read the full Bloomberg report.