vedanta is in a bit of a financial mess at the moment also and they have some hefty debts maturing over the next year which they arent looking too good to cover.
I think any reasonable jusge can see this is merely a cash grab by the Indians for an asset they thought nothing of and now that Mel and team have proven, they want more or the hole thing back; so it is a bit ridiculous.
Mel has stated numerous times they have the proof to state that RVR was never intending to cancel or forfeit but that they wanted to alter the payment cycles a d the issue arose from there.
I suspect worst case scenario we pay anone time fine best case; judge tells them to stop wasting everyones time and get back to business....
In either scenario, Im not too fussed: there is a 0.001% that it could create severe issues for us.
just my view. having said that, the physchological impact of the derisking will be a nice boost to the sharprice of clearing the ambiguity and gaining certainty; so i think it might give us a couple of pips but thats about it.
who knows....but no big deal.
RVR Price at posting:
27.0¢ Sentiment: Buy Disclosure: Held
