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PHOTO FILE: A man walks past the Vedanta logo in front of his headquarters in Mumbai, India, on January 31, 2018. REUTERS / Danish Siddiqui
(Reuters) – Indian miner Vedanta Ltd. said Monday that the investment of its foreign unit Cairn India Holdings Limited in Anglo American Plc met all the requirements in terms of governance.
Vedanta's statement came a few days after the stock fell on Friday, as investors were skeptical about the merits of the investment and questioned potential yields.
The miner said Thursday that Cairn India had paid $ 200 million to acquire a stake in Anglo American from its parent company Volcan Investments Ltd as part of its "cash management activities".
Report of Tanvi Mehta in Bengaluru; Edited by Shreejay Sinha
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