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Govt backs OVL's $2 bn bid for Imperial Energy

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  • Published On: August 11, 2008
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ONGC's overseas arm, ONGC Videsh Limited or OVL, can now go ahead with its foreign acquisitions without the government looking over its shoulders. This comes at a time as OVL plans a $3 billion acquisition of London based Imperial Energy in the backdrop of an ambush by Chinese oil companies.
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