India's federal government has opposed Hindustan Zinc's proposed $2.98 billion acquisition of zinc assets from Vedanta Ltd , a letter from the government to the company showed on Monday.
Directors nominated by the government at Hindustan Zinc had dissented to the proposed deal announced on Jan. 19, the letter showed.
The government holds a near 30% stake in Hindustan Zinc, while Vedanta is the company's largest shareholder. According to the letter, the government reiterated dissent to the "related party transaction". "We would urge the company to explore other cashless methods of acquisition of these assets." The government will oppose any further resolutions on the deal and explore all legal avenues available to it, it added.Reporting by Meenakshi Maidas and Chris Thomas in Bengaluru; Editing by Dhanya Ann Thoppil and Devika Syamnath
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Ted Sarandos On Netflix’s Ambitions In India: “You Ain’t Seen Nothing Yet”Netflix’s Co-CEO Ted Sarandos has told an audience of Indian filmmakers that they “ain’t seen nothing yet” in terms of the streamer’s ambitions in the country. Sarando…
Consulte Mais informação »
Ola plans $920 mln India investment in electric cars, batteriesSoftBank Group-backed Ola Electric would invest $920 million in the southern Indian state of Tamil Nadu to manufacture electric cars and batteries for electric vehicles (EVs), a state government statement said on Saturday.
Consulte Mais informação »
India FM Jaishankar says Soros dangerous, debate needed on democracyIndia’s foreign minister said the democratic world needed a debate on democracy, labelling billionaire investor George Soros “old, rich, opinionated and dangerous” for his comments on India that didn’t recognise its difficult path from colonisation.
Consulte Mais informação »
India welcomes 12 cheetahs from South AfricaNEW DELHI (AP) — India welcomed 12 cheetahs from South Africa on Saturday that will join eight others it received from Namibia last year as part of an ambitious drive to reintroduce the big cats in the country after 70 years.
Consulte Mais informação »
Patel-Ashwin rearguard display rescues India after Lyon blowsAxar Patel and Ravichandran Ashwin gave a spectacular rearguard response to help India overcome Nathan Lyon's spin masterclass as the hosts nearly matched Australia's first-innings 263 on a dramatic day two of the second test on Saturday.
Consulte Mais informação »
Cheetahs flown to India as part of effort to revive species | CNNTwelve cheetahs have arrived in India as part of efforts to revive the species after decades of extinction.
Consulte Mais informação »