Cairn Energy plans $700mln shareholder returns if India row resolved

British company is involved in a lengthy dispute with India over certain tax claims

  

Britain's Cairn Energy said on Tuesday it plans to return up to $700 million to shareholders via a special dividend and share buyback, provided a lengthy dispute with India over certain tax claims is resolved.

The oil and gas producer, which has major operations in the South Asian country, said it was considering entering into statutory undertakings with the Indian government over changes to retrospective tax laws at the heart of the row between the two.

(Reporting by Pushkala Aripaka in Bengaluru; editing by Uttaresh.V) ((Pushkala.A@thomsonreuters.com; Twitter: @pullthekart; Mobile: +91 852 751 3793 ;))


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