Centre open to TN government offer on Neyveli divestment

Published: 01st July 2013 04:00 PM  |   Last Updated: 01st July 2013 04:07 PM   |  A+A-


The Centre will consider Tamil Nadu government's offer to buy 5 per cent shares of the proposed disinvestment of public sector Neyevli Lignite Corporation and sought to assuage employees' concerns, saying there will be no change in management or staff policies.

"I have read about it (Tamil Nadu government's offer) in the newspapers. I have not seen the letter (written by Chief Minister Jayalalithaa)," Finance Minister P Chidambaram told PTI on Monday.

"The letter, I believe, is addressed to the Prime Minister. The copy of the letter has not come to me but assuming that is what the letter says, I will ask the Capital Markets division to quickly consult Sebi whether that would amount to compliance with the Sebi regulations," he said.

He was responding to a question on whether the Centre would consider Jayalalithaa's offer to buy central government's five per cent stake in the lignite producer, which the government had offered to offload to meet Sebi's listing norms.

"We have an open mind. We are disinvesting in Neyveli only for one reason, mainly to comply with the Sebi regulations. If there is an another way to comply with Sebi regulation why should I shut my mind to that. I am willing to consider that option but I will have to consult Sebi," Chidambaram said.


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