Vedanta defers Sesa Goa open offer

New Delhi, June 15: UK-based diversified miner Vedanta Resources' offer to buy further 20 per cent shareholdings in iron ore miner Sesa Goa Ltd has been postponed until further notice, a filing by issue manager ICICI Securities showed.

The offer, which was scheduled to open on June 21, is being held back as the managers wait for clearance from the market regulator, the Securities and Exchange Board of India (SEBI), a statement said today.

After receiving SEBI's observations, the revised schedule of the activities pertaining to acquisition of the equity shares of Sesa Goa will be announced through a public announcement by ICICI.

In April, Vedanta beat players like L N Mittal and Aditya Birla Group's Essel Mining&Industries for buying Mitsui's 51 per cent stake in Sesa Goa for 981 million dollars.

UNI