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VEDL - Vedanta News Story

₹137.05 5.3  4.0%

Last Trade - 11:26am

Sector
Basic Materials
Size
Large Cap
Market Cap £5.21bn
Enterprise Value £9.21bn
Revenue £9.02bn
Position in Universe 55th / 3011

India's Vedanta says Anglo American stake buy meets governance requirements

Mon 4th February, 2019 2:49am
Feb 4 (Reuters) - Indian miner Vedanta Ltd  VDAN.NS  said https://www.bseindia.com/xml-data/corpfiling/AttachLive/1d83894b-3223-4952-b182-ed46c724e8f0.pdf
 on Monday that its foreign unit Cairn India Holdings Limited's
investment in Anglo American Plc  AAL.L  met all governance
requirements. 
    Vedanta's statement comes days after its shares plunged on
Friday, as investors were skeptical of the merits of the
investment and questioned the potential returns.  urn:newsml:reuters.com:*:nL3N1ZW3KX
    The miner said on Thursday that Cairn India had paid $200
million to buy a stake in Anglo American from its parent Volcan
Investments Ltd as part of its "cash management activities".

 (Reporting by Tanvi Mehta in Bengaluru; Editing by Shreejay
Sinha)
 ((tanvi.mehta@thomsonreuters.com; +91 80 67494756 ; Reuters
Messaging: tanvi.mehta.thomsonreuters.com@reuters.net))
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