Cairn sells 40% share to Lukoil, page-126

Thanks @Davy Boy
Makes the equation far simpler. Will WPL want the whole thing excl Petrosen, or Cairns stake as well and not FAR, or just above the 39%, or to stay pat. I think going above 39% seems very likely, and they will either want to get just above 39% (as their stake is worth more all being the same), or as much as they can if they think the value is fantastic.

I suspect the market is impressed because the price being paid by Luk is a good price, and WPL will just want to get to the 39%. I don't know if WPL will really want FAR as a partner after the default, so will take out their stake altogether.