Profit

GoM's tough stand on approving Cairn-Vedanta deal: The inside story

PUBLISHED ON: May 30, 2011 | Duration: 2 min, 16 sec

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A panel of ministers has recommended stringent conditions for approving London-listed mining group Vedanta Resources Plc's $9.4 billion takeover of Cairn India. A six-member Group of Minister headed by Finance Minister Pranab Mukherjee has recommended to the Cabinet Committee on Economic Affairs (CCEA) that approval to Edinburgh-based Cairn Energy Plc selling majority stake in its Indian unit be granted subject to five conditions.
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