Leading City financier Edi Truell has confirmed he will make a bid for Tata Steel's UK assets within the next 48 hours.
He told Sky News that, contrary to popular belief, Brexit would benefit the UK steel industry. This is partly due to its improved ability to compete with subsidised German and French industries.
Earlier today, Truell told City A.M.: "Brexit has made the business a lot more attractive to potential buyers... that has certainly enhanced my thinking."
He's in talks with Tata Steel, the Treasury and the Pensions Regulator who are "listening very carefully" to the proposal, as was first reported by the Times.
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