India's government rejects Hindustan Zinc's proposal to split, citing unconvinced shareholder value increase.
India's government has rejected Hindustan Zinc Ltd's proposal to split the company into separate entities, stating they are not convinced it would increase shareholder value. Hindustan Zinc, a subsidiary of the Vedanta Group, aimed to increase its market capitalization by spinning off its business into separate units, including zinc and silver. The government, which owns a 29.54% stake, was not consulted before the decision.
March 21, 2024
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