MUMBAI/SYDNEY: India-focused British miner Vedanta Resources is considering a bid for New Hope Corp, the $5 billion Australian coal miner that has put itself up for auction, two sources with direct knowledge of the matter said.
Vedanta, controlled by Indian billionaire Anil Agarwal, has held discussions with banks and is expected to appoint advisors ‘soon’, said the sources, who declined to be named as they were not authorised to speak to the media. “We are yet to begin formal talks,” one source told Reuters.
Vedanta mulls bid for Australian coal miner
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