Talks Of Any Stake Sale “Untrue And Baseless”: Vedanta

Billionaire Anil Agarwal-led Vedanta Ltd said on Thursday that talks of any stake sale in the mining major was “untrue and baseless”, after a media report that the tycoon was weighing selling less than 5% stake in the company.

Agarwal is studying options including selling a minority stake in Vedanta as he looks to shrink his commodities business empire’s massive debt load, Bloomberg News reported, citing people familiar with the matter.

Shares of Vedanta fell as much as 6.3%.

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