Investors Punish Cairn Energy Over India Deal ; Pound(S)160m Lost From Value of Firm As Vital Talks Loom

The Herald › February 05, 2011

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Summary

INVESTORS wiped pound(s)160 million off the market capitalisation of Cairn Energy, reflecting nervousness in advance of crunch talks between the company and the Indian government on Sunday.

Shares in Cairn Energy fell 3% ahead of a meeting between its chief executive, Sir Bill Gammell, and Indian oil minister S Sundareshan, making it the biggest faller in the FTSE 100.

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Extract

Investors Punish Cairn Energy Over India Deal ; Pound(S)160m Lost From Value of Firm As Vital Talks Loom

Edinburgh-based Cairn will seek the Government's blessing at the meeting for the proposed sale of the bulk of its Indian business, for up t...

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