NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  

Rediff News  All News  » Business » Vedanta deal: Cairn chief meets minister for talks

Vedanta deal: Cairn chief meets minister for talks

February 08, 2011 14:34 IST
VedantaCairn Energy Plc chief executive Bill Gammell met Oil Minister S Jaipal Reddy on Tuesday to discuss his company's proposed sale of a majority stake in Cairn India to Vedanta Resources.

Gammell described the 30-minute meeting as 'positive and constructive' and said he was hopeful of concluding the $9.6 billion deal within the scheduled timeframe of April 15.

"Cairn continues to work with the government of India to complete the proposed transaction before April 15,"
he said.

Gammell said his company will not go back to its shareholders for extending the April 15 deadline for concluding the transaction.

© Copyright 2018 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.