Vedanta's Anil Agarwal to boost Anglo American stake by $2 bn

Plans to increase stake by up to 20%

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 (2.03 billion), 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 per cent, a banking source who declined to be named said.

Anglo American declined to comment.

($1 = 0.7375 pounds)