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.
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