Coal India is likely to resume talks with Alpha Coal for acquiring stake in mines of Massey Energy

KOLKATA: Coal India Limited (CIL) may restart talks with Alpha Coal, owners of Massey Energy, with the aim to acquire stake in number of mines of Alpha Coal.

CIL Chairman N C Jha has said that although informal talks have been taking place but nothing concrete has taken place. Mr Jha has further elaborated that CIL is not interested in the acquisition of the majority stake in mines of Massey Energy.

Mr Jha, said, “We will restrict our stake to 49 per cent. CIL had done financial due diligence, but would like do physical verification of mines before finalising the deal.”

CIL had been conducting negotiations for Massey's Sidney Underground Mines in the US.