Although overshadowed by its “battle for Nyamgiri”, Vedanta Resources’ bid for US copper company, Asarco, is probably just as important a strategic priority for the UK company. Notorious hedge fund manager, Philip Falcone, is rumoured to be backing Vedanta in the bid. He’s the guy who set up Harbinger Capital, which helped bring UK insurance, banking and mortgage provider, HBOS, to its knees last year. Falcone was consequently dubbed by Britain’s populist Daily Mirror newspaper as “a greedy pig US billionaire”. In his own way, he’s just as ruthless as Vedanta’s big boss, Anil Agarwal. So, it’s no surprise that these two vipers are slinking together, intent on feathering each other’s nests.