UPDATE 3-Vedanta H1 down, no need for fraud probe provisions
* H1 EPS falls 44 pct to 68.5 cents on weak prices
* No need for provisions from fraud probe of unit
* Sees early signs of global economic recovery
* Shares down 3.5 percent
(Adds CEO comments on fraud probe, more analyst comments)
By Eric Onstad
LONDON, Nov 5 (Reuters) - India-focused mining group Vedanta Resources Plc (VED.L: Quote, Profile, Research) said no provisions were needed for a fraud probe into its iron ore unit as it posted a steep fall in first-half profit due to weaker metals prices.
Unit Sesa Goa (SESA.BO: Quote, Profile, Research), India's biggest iron ore exporter, said on Oct. 29 that it was under investigation by India's Serious Fraud Investigation Office for financial and other irregularities, sparking a slide in its shares. [ID:nBOM218934]
But Vedanta Chief Executive M.S. Mehta said on Thursday the probe related to issues in 2003, four years before Vedanta bought its 51 percent stake in Sesa. Continued...
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