As an investment, Vedanta has its attractions. Anil Agarwal, the chairman, has expanded the company into a large diversified mining group offering a way into the Indian growth story. The shares, even after yesterday’s 7.6 per cent fall, have outperformed those of other FTSE 100 miners over the past five years.
But there are other ways to buy into the Indian growth story. A mining company featuring a dominant founder, an overly complex corporate structure and a growing PR problem is far from the most attractive entry point.
Wednesday, 25 August 2010
I think the FT makes the point quite well about why this isn't just a socially conscious celeb issue: