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UPDATE 1-India's state-owned LIC buys 86 pct of Indian Oil shares on offer

2015-08-27 00:19:52| Steel - Topix.net

State-owned Life Insurance Corporation of India bought 86 percent of shares on offer in state-run Indian Oil Corp this week, salvaging a $1.4 billion government sale as the Indian market took its biggest tumble in more than six years. LIC, India's biggest investor, has in the past dug into its pockets to prop up government sales, buying up state banks and government mining firms.

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