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Govt may sell NMDC shares worth $3 bn

Govt may sell NMDC shares worth $3 bn
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First Published: Wed, Dec 09 2009. 11 10 PM IST
Updated: Wed, Dec 09 2009. 11 10 PM IST
Mumbai: The government plans to sell as much as $3 billion (Rs14,040 crore) of shares in National Mineral Development Corp. Ltd (NMDC), the nation’s biggest iron ore producer, as part of a sell-off of state assets, said two people familiar with the proceedings.
A committee of ministers will start selecting arrangers for the sale this week after cabinet approved plans to divest an 8.38% stake, said the people, who declined to be identified because the development has yet to be made public.
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First Published: Wed, Dec 09 2009. 11 10 PM IST
More Topics: NMDC | Shares | Mineral | Iron Ore | Corporate News |