Can Agarwal wrestle Anglo?
Since Vedanta Resources' major investor took a large stake in Anglo American, speculation about his real intentions has been rife
What on earth is Anil Agarwal up to? That has puzzled the market since the chair and founder of Vedanta Resources bought a near 20% stake in Anglo American two years ago. Next year his Volcan Investments trust must either pay up for the Anglo shares it bought with a loan, or extend the timeline on the bonds. Speculation of a potential takeover bid by Agarwal remains. When he acquired the stake, in 2017, the mining tycoon shrugged off rumours that he planned a takeover bid for the multinational corporation, or that he was gunning for a board seat. Instead he insisted that the acquisition, which made his family trust the single largest shareholder in Anglo, was purely a personal investment. But of late Agarwal’s moves have helped to fan the flames of speculation as to what his real agenda might be. PODCAST: The growing power of class action lawsuits Subscribe: iono.fm | Spotify | Apple Podcasts | Pocket Cast | Player.fm Last month, at the opening of Vedanta Zinc’s Gamsberg mine — one ...
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