GAIL in talks to buy stake in Advent: executive

Gas firm GAIL (India) Ltd is in talks with Advent Energy to buy a stake in the Australian company, its head said today. "The talks are at a premature stage," B.C. Tripathi told reporters.

Gas firm GAIL (India) Ltd is in talks with Advent Energy to buy a stake in the Australian company, its head said on Wednesday.

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"The talks are at a premature stage," B.C. Tripathi told reporters.

He declined to comment on whether the company was looking to buy stake in Advent as part of a consortium of India's state-run energy firms.

The Economic Times reported on Wednesday a consortium of Indian state-run energy firms led by Oil and Natural Gas Corp is in talks to buy a 25% stake in Advent for about $1 billion.