ONGC Flip-Flops On Videocon Deal
  • Saba Ashraf
  • Jun 11 2013

After announcing a deal to buy Videocon’s Mozambique gas field stake yesterday, ONGC quickly withdrew its statement. The company recalled its statement that it was in a definitive agreement with Oil India to buy Videocon’s 10% stake in the Mozambique gas basin for $2.48 billion.