Epic Update : Oil India

Oil India (OIL) is reportedly planning to acquire Videocon’s stake in Mozambique’s Rovuma Basin asset shortly. The company in association with ONGC Videsh (OVL) is likely to make a bid to acquire Videocon’s 10% stake in Mozambique’s Rovuma basin shortly. Videocon plans to raise about $3 billion from the transaction, to pay off debts.

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