mo4ch:>British Steel: Takeover set to be completed

British Steel: Takeover set to be completedBritish Steel: Takeover set to be completed8 March 2020 Image copyrightGetty ImagesA Chinese firm is set to complete its takeover of British Steel on Monday.Jingye Group previously said that it would save more than 3,000 jobs in Scunthorpe and Teesside and modernise the towns' steelworks.The firm reportedly offered £50m to buy the company after it collapsed and was placed under the control of the UK Insolvency Service last year.Unions have said that nearly 500 workers could still face losing their jobs.British Steel employed about 5,000 people at the time of its collapse, and is the second-largest steelmaker in the country. Jingye Group, which also makes steel, has also promised to invest about £1.2bn over the next 10 years on upgrading its plants and machinery.Jingye's chief executive has described the deal as a "new chapter in British steelmaking".Uncertainty for workersConfirmation of the takeover will follow months of unce…