India 'has final say' on Vedanta link with Cairn Energy
11 April 2012
Cairn Energy may need approval from India's government to sell a stake in its unit in the country to Vedanta Resources, the country's oil minister said today.
India-focused miner Vedanta is in talks with Cairn, which has a 62.37% stake in Cairn India, to buy a piece of the unit.
Petroleum secretary S Sundareshan said he had learned from Cairn India that discussions between the two firms were at a preliminary stage.
Such a deal would be the diversified miner's first move into oil and gas.