Vedanta Resources plc (LON: VED) bought Cairn India, BHP Billiton plc (LON: BLT) captures the profit
BHP Billiton plc and Vedanta Resources plc shares up
In brief: Vedanta Resources plc (LON: VED) enters into a bargain with Cairn India, BHP Billiton plc (LON: BLT) shares continued to rise in price slowly.BHP Billiton plc (LON: BLT) can show a serious increase in profits – the Open Knowledge analysts say. BHP Billiton plc shares came close to 1,953.50 points, gaining 0.54% in early trading session.
Vedanta Resources plc (LON: VED) shares rose in value to 2,169.00 points, gaining +116.00 (5.65%). The mining company Vedanta Resources buys 60% stake in Cairn India for $ 9.6 billion to gain access to the largest in India’s onshore crude oil. It is reported that Vedanta will pay between $ 8.5 billion to $ 9.6 billion in cash to Cairn Energy, the parent company of Cairn India, intended partly to convey to shareholders, partly harnessed to develop oil fields in Greenland and elsewhere.
Igor Tringlers2010-08-16 10:43, Economics.
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