Jet Airways shares surge on report of stake sale
MUMBAI (Reuters) - Shares in Jet Airways(JET.NS) rose over 7 percent on a report in Mint newspaper that the airline will soon seek regulatory approval to tweak its ownership pattern to facilitate a stake sale to Etihad Airways.
The gains on Monday come on the back of a 57 percent rise in the carrier's shares in November on speculation over a deal with Etihad Airways.
Rival SpiceJet Ltd (SPJT.BO) shares were also up 6 percent.
Jet Airways and SpiceJet, battling hot competition and high operating costs, are in talks to sell minority stakes to foreign investors, said a senior Indian government official with knowledge of the discussions.
(Reporting by Abhishek Vishnoi)
- Tweet this
- Share this
- Digg this
Trending On Reuters
India's latest auction of radio wave frequencies for telecoms networks got off to strong start on Wednesday, with the government receiving bids worth about 617 billion rupees ($9.9 billion), according to bidding data. Full Article