 Online edition of India's National Newspaper Thursday, Sep 25, 2008 ePaper | Mobile/PDA Version |
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LONDON: Even as NRI billionaire Anil Agarwal-led Vedanta on Wednesday postponed its restructuring plans citing global financial meltdown and investors’ feedback, a media report alleged that the company had bowed under pressure from its ‘rebel’ shareholder, The Children’s Investment Fund. However, Mr. Agarwal declined to have succumbed to any such pressure, in an interview to a private news channel. “We have not got any legal notice from TCI, like them there are several investors. We also respect their views and other’s views on the basis of that we have realised that in today’s time we should not pursue the position,” he told CNBC TV 18. There was no point in pursuing the plan to simplify and streamline the corporate structure in the present global market conditions, he said and added the company would undertake the plan when the market settled down. On September 9, the Indian arm of the U.K-based company, Sterlite Industries, had announced the plan to re-align the corporate structure into three verticals — copper and zinc-lead, aluminium and energy, and iron ore. — PTI
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