India group says no decision yet on Riversdale bid

MUMBAI, Jan 22 (Reuters) - An Indian state consortium has not taken any decision on a possible bid for Africa-focused coal miner Riversdale and it has sought more information from its adviser, its chairman said on Saturday. "We could not conclude the discussions and the issue will be taken up on Jan. 27," C.S. Verma told Reuters, after a meeting to discuss the possible bid.

"Report has come from the banker and we have asked for some more clarifications." The consortium, International Coal Ventures Ltd (ICVL), consists of utility NTPC, Steel Authority of India Ltd , iron ore miner NMDC, Coal India and steelmaker Rashtriya Ispat Nigam Ltd. It had earlier appointed Citigroup to conduct due diligence on Riversdale. Anglo-Australian miner Rio Tinto has offered $3.9 billion to buy Riversdale in an agreed deal as it seeks secure coking coal reserves sought after by steelmakers. (Reporting by Prashant Mehra; Editing by Aradhana Aravindan) ((; +91-22-6636 9068; Reuters Messaging: Keywords: ICVL RIVERSDALE/DECISION (If you have a query or comment on this story, send an email to COPYRIGHT Copyright Thomson Reuters 2011. All rights reserved.

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