INDUSTRY NEWS

No plan for another open offer; in exploratory talks for BPCL: Vedanta

“At the moment we have no plan to make any open offer and if it’s in the interest of shareholder, we will look at it,” said Anil Agarwal, Chairman of Vedanta, in an interview with CNBC-TV18.

Vedanta’s open offer to delist the company had come a cropper because of poor response from minority shareholders.

Speaking in an interview to CNBC-TV18, he said that production of oil is a very big opportunity in India. “India is the only place which produce and consume,” he said.

According to him, India is in a sweet spot and will grow phenomenally well from here.

Agarwal said his company was in exploratory talks to acquire a stake in BPCL as it was a strategic fit.

“We will keep shareholders’ value in mind while looking at acquiring public sector undertaking (PSUs) and no employee will be retrenched if we gain control of any PSU.”

Source
CNBC
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