Vedanta is said to put $2.5 billion steel business sale on hold

Vedanta Ltd. has put its steel business plan on hold after a $1 billion share sale, which allowed the company more financial flexibility and drew attention to environmental and regulatory concerns. The company had been working with advisers to raise $2.5 billion to reduce its debt load. Vedanta's billion-dollar fundraising through a share placement last month has eased some of the debt pressure and reduced the need to sell.