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Vedanta Resources may make bid Australia's for New Hope

Vedanta Resources is considering a bid to acquire Australia's New Hope Corp, the USD 5 billion Australian coal miner that has put itself up for auction.



Mumbai: India-focused UK-listed miner Vedanta Resources is considering a bid to acquire Australia's New Hope Corp, the USD 5 billion Australian coal miner that has put itself up for auction, two sources with direct knowledge of the matter told reporters.

Vedanta, controlled by Indian billionaire Anil Agarwal, has held discussions with banks and is expected to appoint advisors soon, said the sources, who declined to be named as they were not authorised to speak to the media.

Spokesmen for both New Hope and Vedanta were not immediately available for comment.

Bureau Report

From Zee News

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