November 6, 2019 / 1:16 PM / 3 months ago

India cabinet to review BPCL sale proposal next week - government source

FILE PHOTO: A Bharat Petroleum oil pump station displays the price of unleaded petrol (0.89$) and Diesel (0.66$) as a pedestrian walks past in New Delhi, India, February 3, 2016. REUTERS/Adnan Abidi

NEW DELHI (Reuters) - India’s cabinet is expected to evaluate a proposal to sell the government’s stake in state-run Bharat Petroleum Corp (BPCL.NS) next week, a government source said.

The Indian government plans to sell its entire 53.29% stake along with management control in BPCL for about $10 billion.

Reporting by Nidhi Verma in New Delhi; Editing by Shinjini Ganguli

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