Czech energy group hints at combined bid for British Steel and Speciality Steel UK

Exclusive: Sev.en Global Investments could turn state-owned businesses into Britain’s biggest steelmaker

• Business live – latest updates

The owner of the UK’s largest electric steelworks has said the government should find a single buyer for British Steel and Speciality Steel UK (SSUK), a move that would create the country’s biggest steelmaker.

Sev.en Global Investments, owned by the Czech billionaire Pavel Tykač, said it not only plans to invest £100m in the UK – mainly in the electric arc steelworks in Cardiff it bought last year – but also has the ability to invest “hundreds of millions of pounds” more in Britain under its 7 Steel brand.