State firms not to counter Vedanta on Cairn - source
Submitted by Akilah Amiri on Sat, 08/28/2010 - 09:56
The news about the withdrawal of the joint counter-bid by government operated energy companies GAIL, ONGC and Oil India against the $9.6 billion share acquisition of Cairn India by Vedanta group has been confirmed by a senior official of the Oil Ministry of India.
ONGC-OIL-GAIL may bid to counter Vedanta's offer for Cairn
Submitted by Akilah Amiri on Wed, 08/25/2010 - 16:56
The $8.48 billion bid of Vedanta a major chunk of stake in Cairn India is now expected to be contended by a combined bid by government owned ONGC, GAIL and OIL who have reportedly assembled an amount of $10 billion from various international financial institutions for this purpose.
