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Article: VEDANTA TO ACQUIRE INDIAN GOVT STAKES IN BALCO, HZL IN 3-4 MONTHS.
- Article from:
- AsiaPulse News
- Article date:
- August 3, 2009
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NEW DELHI, Aug 3 Asia Pulse - Metal and mining major Vedanta Resources, a global diversified and integrated metals and mining group headquartered in London, England, hopes to buy out the Indian government's minority equity in its group firms Bharat Aluminium Company Ltd. (BALCO) and Hindustan Zinc (BSE:500188) in the next three to four months, a top company official said.
The government now holds 49 per cent stake in Balco and 29.5 per cent in HZL. The balance of HZL's equity is held by the public.
"As far as our call options are concerned, in case of Balco we are currently in arbitration, a couple of arbitration meetings have taken place, and hopefully ...