Public sector enterprises world news
Newsletter no. 1, December 2011
issued by ICPE, Ljubljana, Slovenia, EU
India mulls share buy-back of State companies
INDIA – India’s largest mining companies would suffer a sharp erosion of their current aggregate $14.12-billion free cash reserves once the Indian government goes ahead with its plans to reduce fiscal deficit through a buy-back of shares in these government majority-owned companies.
However, several of the mining and integrated metal companies have expressed reservations over government draw-down from their cash reserves, fearing deleveraging in their negotiations in acquiring overseas assets and domestic expansion investments.
Source: Mining Weekly.com
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