Vedanta will acquire 51-60% of Cairn India for $8.5-9.6 billion, with Vedanta Resources holding 31-41% directly and Sesa Goa holding 20%. Shares will be acquired from Cairn Energy at $355 per share plus a $50 per share non-compete fee. India may extend the August 31 deadline in its dispute with Blackberry over access to data. China said it will develop military ties with India in a spirit of consultation but did not comment on denying a top Indian general's visit. After merging with Indore, SBI plans to merge its remaining five subsidiaries: State Bank of Travancore, State Bank of Patial

1. Weekly News Submitted By Vishal Sharma

3. Post completion it is expected that Vedanta resources PLC(“Vedanta”) will hold 31- 41% of Cairn Indai directly anfSesa Goa limited(“Sesa Goa”) will hold 20%.

5. Defence ties with India not halted As India put on hold bilateral defense exchanges, China on Saturday said that two countries would act in the spirit of “consultation and unity” to develop military ties, but remain mum on issue of denial of permission to a top Indian general to visit here. New Delhi has said Beijing's actions amount to questioning the status of J&K which is unacceptable.

6. After Indore, SBI plans merger of other siblings. SBI has agreed to pick up any unsubscribed shares in the upcoming Rs.583 crore rights issue of state Bank of Mysore where it holds 92.3% Following the latest merger SBI will be left with five associates :State Bank of Travancore, State Bank of Patiala, State Bank of Bikaner and Jaipur, State Bank of Mysore & State Bank of Hyderabad.