Monday, August 30, 2010

Govt may find it difficult to say no to Cairn-Vedanta deal

With Cairn Energy Plc voluntarily offering to meet government conditions, the Oil Ministry may find it difficult to nix its deal to sell majority stake in Cairn India to Vedanta Resources.

The Oil Ministry has shown signs of discomfort at a non-oil firm taking control of a company whose main property is the Barmer district oilfields in Rajasthan and has been in a huddle for the past two weeks combing through the deal.