New Delhi: The government has no “strategic interest” in holding a minority 29.54% stake in Hindustan Zinc Ltd (HZL), according to mines minister Piyush Goyal. “My approach is that we have no role in it and I don’t see any role for us to keep that minor stake,” Goyal told PTI. In 2002, the government sold 26% stake in HZL for Rs.445 crore to billionaire Anil Agarwal-led Vedanta. In 2003, it again acquired additional 18.92% in exercise of call option clause in shareholders’ agreement between the government and the firm. The apex court also restrained the government from going ahead with any further disinvestment of its stake in the firm.

Source: Mint August 28, 2016 17:26 UTC