(Corrects currency to pounds not dollars in headline, paragraph
LONDON, March 15 Indian billionaire Anil Agarwal
said on Wednesday he would buy a stake of up to 2 billion pounds
($2.5 billion) in Anglo American but had no intention of
trying to take control of the global miner.
Agarwal, who has majority control of Hindustan Zinc Ltd
through Vedanta Ltd , will make the
investment through his family trust Volcan Holdings, Volcan said
in a statement.
Anglo, which has a market value of around 16.75 billion
pounds ($20.55 billion), declined to comment.
"This is an attractive investment for our family trust ... I
am delighted to become a shareholder in Anglo American plc,"
Agarwal said in the statement.
Anglo, which focuses on diamonds, platinum and copper, has
along with other mining companies recovered from a slump in
commodity prices in 2015.
The company's shares soared nearly 300 percent last year and
it said in February it would resume paying dividends and slow
down its asset sales as it was no longer under financial
The statement also said that neither Volcan nor Vedanta
intended to make an offer to acquire Anglo American.
($1 = 0.8151 pounds)
(Reporting by Zandi Shabalala and Sanjeeban Sarkar; Editing by