Doubts hang over Cairn’s Indian sale

UK OIL and gas explorer Cairn Energy yesterday cast doubt on the planned sale of most of its Indian business to miner Vedanta Resources for up to $8.5bn (£5.4bn), but said it still hoped to seal the deal next year.
Cairn said there was no guarantee it would sell 40 to 51 per cent of its 62.4 per cent stake in Cairn India to London-listed Vedanta due to regulatory uncertainty.
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Source: City A.M.