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Sterlite, Sesa Goa play down talk of merger

February 22, 2012 - 13:34 GMT Location: Mumbai

KEYWORDS: Merger , Vedanta , Sesa Goa , Sterlite Industries , Balco , HZL

Vedanta Resources’ Indian subsidiaries Sesa Goa and Sterlite Industries have played down media reports that the two companies will be merged.

“Vedanta’s stated strategy is to simplify and consolidate its corporate structure. Management reviews options to deliver this strategy on an ongoing basis and will update the market as appropriate,” the two Indian subsidiaries said on Wednesday February 22. The comments follow intense speculation in the Indian media about an impending merger of the two companies. In the event of a tie-up, the two companies’ resources base would span oil and gas, iron ore, zinc,...

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