Vedanta to close Cairn India merger in 2017
Mining and energy group Vedanta Resources aims to complete its merger with oil and gas explorer Cairn India early next year, amid attempts to boost its financial strength, Vedanta's CEO has said. The deal, which will give Vedanta access to Cairn India's $3.5 billion cash pile, will reportedly reduce its ownership in Vedanta Limited to 50.1% against the current 62.9%. 