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Indian billionaire Agarwal to buy bigger stake in Anglo American

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Indian billionaire Agarwal to buy bigger stake in Anglo American

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LONDON (Reuters) – Volcan Investments, the family trust of diversified miner Vedanta <VED.L> on Thursday said it was increasing its stake in Anglo American <AAL.L>. In a statement it said it was increasing its stake by acquiring shares worth between 1.25 billion pounds and 1.5 billion pounds, in addition to the 2 billion pounds spent in March on acquiring a 12.43 percent holding. The additional shares could take the stake up to 20 percent, a banking source who declined to be named said. Anglo American declined to comment.

(Reporting by Barbara Lewis and Clara Denina)
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