Anil Agarwal said to be mulling over merger with Vedanta

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 16 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 63%

Business News News

The potential deal follows a global commodities boom that’s fuelled a rally in Vedanta shares and almost doubled its market capitalisation in the past year to about $17bn

Indian billionaire Anil Agarwal is considering a potential merger of his commodity empire’s indebted holding company with cash-rich listed unit Vedanta, people familiar with the matter said.

Agarwal did not immediately respond to a request for comment. A representative for Vedanta said there is “no plan” to merge Vedanta Resources with Vedanta. Shares of Vedanta fell as much as 4.1% earlier on Thursday in Mumbai before reversing those losses. They were up 1.6% as of 11.18am local time.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in BUSİNESS

Business Business Latest News, Business Business Headlines