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Vedanta offer for India Sesa holders postponed

Vedanta offer for India Sesa holders postponed
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First Published: Fri, Jun 15 2007. 02 07 PM IST
Updated: Fri, Jun 15 2007. 02 07 PM IST
By Reuters
Mumbai: An offer by Vedanta Resources to buy 20% of minority shareholdings in Indian mining firm Sesa Goa Ltd has been postponed until further notice, a filing by issue manager ICICI Securities showed.
The offer, which was scheduled to open on 21 June, is being held back as the managers wait for clearance from the regulator, the Securities and Exchange Board of India, the filing said on 15 June.
The offer to minority holders is to fulfil a regulatory obligation after Vedanta agreed in April to buy 51% of Sesa from Japan’s Mitsui & Co Ltd.
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First Published: Fri, Jun 15 2007. 02 07 PM IST
More Topics: Money Matters | IPOs |