FM-led GoM to meet next week on Cairn-Vedanta deal

A Group of Ministers headed by Finance Minister Pranab Mukhejree is likely to meet on Monday to vet London-listed mining group Vedanta Resources' USD 9.6 billion acquisition of Cairn India.

Besides Mukherjee, the GoM includes Oil Minister S Jaipal Reddy, Law Minister M Veerapa Moily, Telecom Minister Kapil Sibal and Planning Commission Deputy Chairman Montek Singh Ahluwalia.

"The first meeting of the GoM is tentatively scheduled for Monday second half," a top government functionary said.

The ministerial panel will deliberate on whether Vedanta with no experience in oil and gas sector, should be given unconditional approval for buying a company that owns the nation's largest onland oil fields or given clearance after attaching reasonable conditions.

The official said Reddy had listed two options.