Anil Agarwal is finally warming up to the government. CNBC-TV18's Anshu Sharma reports, quoting sources, that Agarwal has written to the Prime Minister on Hindustan Zinc and BALCO and has hinted that he is open to negotiations to buy the government's residual stake in both companies.
Vedanta's head honcho, Anil Agarwal, has reached out to the Prime Minister on July 6 to buy the government’s residual stake in BALCO and Hindustan Zinc and clearly hinted at Vedanta's willingness to increase the offer made in January.
The development assumes importance as the government was not impressed by Vedanta's earlier offer of a little over Rs 17,000 crore for both companies. In his letter, Agarwal did not specify a revised offer, but made it apparent that Vedanta was open to negotiations.
Agarwal told the Prime Minister that the government should select a transparent process for the sale of residual stake and that Vedanta was willing to abide by the process selected by the government.
Government sources also add that the earlier EGoM on the BALCO and Hindustan Zinc stake sale has been wound up and the decision will have to be taken by the Cabinet Committee of Economic Affairs.
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