Indian billionaire Agarwal to buy bigger stake in Anglo American

Volcan Investments, the family trust of diversified miner Vedanta on Thursday said it was increasing its stake in Anglo American.

In a statement it said it was increasing its stake by acquiring shares worth between 1.25 billion ($1.69 billion) and 1.5 billion pounds, in addition to the 2 billion pounds spent in March on acquiring a 12.43 percent holding.

The additional shares could take the stake up to 20 percent, a banking source who declined to be named said.

Anglo American declined to comment.

($1 = 0.7375 pounds)

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