China to battle India for UK energy firm

The Chinese ghost which haunted ONGC's overseas arm ONGC Videsh in Angola is back. This time it's in London where OVL is eying to buy assets of oil and gas explorer Imperial Energy and China's state-run oil major Sinopec has thrown itself in the ring. NDTV has learnt that ONGC offer of 12.90 pound per share may be easily toppled by Sinopec and analysts say with Merrill Lynch advising Imperial Energy, it is obvious that bid offer price may touch 18 pound per share.