Steve Turner

announce The Official Receiver, and This Week , an investment arm of the Turkish armed forces pension Fund, the preferred bidder for British Steel .

Ataer Holding would then be given several weeks to buy to try British Steel - the owner of the Scunthorpe Works - from the insolvency.

British Steel was in compulsory winding-up in may, if the forced administrator was appointed.

Ataer owns almost 50% of Erdemir, Turkey's biggest Steel producer.

It is the investment vehicle of the Turkish armed forces Assistance Fund (known as Oyak), The Pension Fund for the armed forces.

around 5,000 jobs were At Risk , and 20,000 in the supply chain if the talks failed, in may between the government and British Steel owner, grey bull.

British Steel has about 5,000 employees. It has 3,000 in Scunthorpe, with a further 800 on Teesside and in North-East England.

The Company was transferred to the insolvency administrator, because British Steel , the shareholders and the government were able, or not, the support of The Company .

The Oyak, which was attended, under the presidency of Mehmet Tas , a former army general, and its annual General meeting in may, the Turkish defense Minister and The Head of the armed forces.

It already has interests in cement, agriculture, mining and energy, as well as a Joint Venture with French car maker Renault and a turnover of $9. 8bn (£8. 1 billion) in the past Year .

The Paper Ataer, founded by Oyak in 2005 said, is planning to embark on a flood of global Steel acquisitions and considers buying British Steel "fat" is a first step, would also be a signal of intent.

Unite, assistant General Secretary Steve Turner said The Union was meeting with the administrator on Thursday and reported by a buyer speculation has been.

"Unite understands, from previous meetings, that there were three serious bidders, the interest in buying British Steel as a going concern.

"With respect to the potential bid from the Turkish military pension Fund. While we will Unite to welcome it as a serious matter, to, watch this carefully and talk with our Turkish sister unions in Turkey, the record of repression in addition to the reported opposition to independent trade Union organisation in its Turkish Steel mills. "

Prof Barbara Shollock, head of engineering at King's College, London, told Radio 5 live Wake Up to money due to the Association of the Scunthorpe Steel manufacturer in the Turkey can make commercial sense.

"The British Steel industry is highly regarded, the products you make are of high value and high quality. Perhaps in a stronger European presence [of the Turkish fund] may feel that you consolidate the market and expand their opportunities. "

you said it was a "challenging situation".

"[the Steel ] is what we call a Foundation of the industry, and that is, it is one of the most important producers of materials that seemed to feed into other industrial and important things such as, automotive, construction, so it is very important that we have a strong Foundation. "

State-owned Network Rail - the 100,000 tons of rails from British Steel buys each Year - has said it wants the takeover of the British Steel division is responsible for the welding, processing and storage of the rails for the UK's train network, although it said it would prefer to be a bidder for the entire company Found .

Source of news: bbc.com