Decision on $9.6-bn Cairn deal in 4-6 weeks: Deora

The petroleum ministry will take a decision on whether to approve Vedanta Resources' deal for control in Cairn India in four to six weeks, Union Minister Murli Deora said on Monday.

The petroleum ministry will take a decision on whether to approve Vedanta Resources' deal for control in Cairn India in four to six weeks, Union Minister Murli Deora said on Monday.

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"We will reply to Cairn in 4-6 weeks," he told Reuters over the telephone from Mumbai.

Last month, London-listed miner Vedanta said it agreed to spend up to $9.6 billion to buy a majority stake in Cairn India from UK-based Cairn Energy.

The agreement needs government approval because Cairn India has production-sharing contracts with the government for oil and gas exploration blocks.

According to the pact, any ownership change will need prior government approval.