Vedanta Limited denies reports of possible merger with Vedanta Resources
Vedanta Limited has quashed media reports that the company is in preliminary talks with prospective advisors regarding the idea of merging the company with Vedanta Resources Limited.
The mining company said that it strongly denies the reports as both speculative and misleading to its investors.
Vedanta Limited stated: “No such proposal is under consideration, and we categorically deny any such rumours.”
It has been a subsidiary of the UK-based Vedanta Resources Limited, which is an oil and gas and metals company with a significant operational presence in India, South Africa, and Namibia.
Vedanta Limited had ended 2021 by acquiring Nicomet, a Goa-based producer of battery grade nickel sulphate crystals which are used for the manufacturing of electric vehicle batteries.