TAIPEI :The Indian government and Foxconn had concerns over the financial situation of Vedanta, which led to the Taiwanese company parting ways with Vedanta on a chipmaking joint venture, sources familiar with the information told Reuters.Indian conglomerate Vedanta Ltd's London-based parent, Vedanta Resource
TAIPEI :The Indian government and Foxconn had concerns over the financial situation of Vedanta, which led to the Taiwanese company parting ways with Vedanta on a chipmaking joint venture, sources familiar with the information told Reuters.
Indian conglomerate Vedanta Ltd's London-based parent, Vedanta Resources, has been plagued by a rising debt pile. In a statement to Reuters, Vedanta said its Indian unit, Vedanta Ltd, is in"a comfortable financial position" and there was"no basis" to such speculation.Some ratings agencies downgraded Vedanta Resources this year amid concerns about risks of a debt default.Source: Reuters
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