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LONDON (Reuters) - Indian billionaire Anil Agarwal said on Wednesday he would buy a stake of up to 2 billion pounds ($2.5 billion) in Anglo American
Agarwal, who has majority control of Hindustan Zinc Ltd
Anglo, which has a market value of around 16.75 billion pounds ($20.55 billion), declined to comment.
Anglo, which focuses on diamonds, platinum and copper, has along with other mining companies recovered from a slump in commodity prices in 2015.
The company's shares soared nearly 300 percent last year and it said in February it would resume paying dividends and slow down its asset sales as it was no longer under financial pressure.
($1 = 0.8151 pounds)
(Reporting by Zandi Shabalala and Sanjeeban Sarkar; Editing by MarkPotter)
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)