ONGC plays hardball on Vedanta-Cairn deal
Sources say ONGC, which has 30 per cent interest in the Rajasthan block, is not keen on putting in a counter bid against Vedanta for acquiring majority stake in Cairn India. But ONGC is also not in mood to let Cairn get away with a windfall, as they pay 100 per cent royalty for the Rajasthan block, despite having only 30 per cent stake.
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