Vedanta’s future plan may trip on past hurdle
Anil Agarwal’s Vedanta group’s plan to buy the Government of India’s residual 29 per cent stake in Hindustan Zinc Ltd (HZL) by December will hit a block with the Central Bureau of Investigation’s (CBI’s) plans to investigate the company’s privatisation by the previous government in 2002.
See http://www.minesandcommunities.org/article.php?a=12463.
Vedanta gets shareholder nod for India buyout offers
Mining conglomerate Vedanta Resources Plc won the backing of its shareholders to offer up to $3.48 billion to buy the Indian government’s minority stakes in two of its subsidiaries. London-listed Vedanta said it received 92.10 percent of votes in favour of the company or its units buying the government’s 29.5 percent stake in Hindustan Zinc. Vedanta also received 92.01 percent of votes in favour of acquiring the government’s 49 percent holding in Bharat Aluminium Co (BALCO).
See http://in.reuters.com/article/2013/10/30/vedanta-india-stakes-idINDEE99T0AK20131030?feedType=RSS&feedName=topNews.