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Cairn Energy chief executive Bill Gammell (left) and Vedanta chairman Anil Agarwal: obstructed by protocol, bureaucracy and a jealous rival |
When Vedanta Resources announced its intention to buy a controlling stake in the Indian oil interests of Cairn Energy on August 16 for up to $9.6 billion it looked like a rare and much-needed triumph for New Delhi. Here was a classic win-win outcome. Mining company Vedanta, London listed but India oriented, was desperate to make a splash in the country’s oil and gas sector.
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