NEW DELHI: India’s plan to sell a majority stake in the country’s second-biggest state refiner has slowed down amid the coronavirus pandemic and other government initiatives such as the initial public offering (IPO) of the nation’s biggest insurer, according to people familiar with the matter.
The discussions with investors on the stake sale of Bharat Petroleum Corp Ltd (BPCL), from which the government could fetch about US$7bil (RM45.2bil), haven’t progressed much recently, the people said.
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