MARKET EYE-India's SpiceJet gains on foreign investment hopes

Thu Jan 3, 2013 10:18am IST

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* SpiceJet Ltd gains 2.4 percent on hopes the carrier
would also attract foreign investment after a senior Indian told
reporters rival Jet Airways was the front-runner to win
an investment from Etihad Airways.  
* The Gulf carrier could pay up to 15-18 billion rupees for a 24
percent stake in Jet, the official said, valuing Jet at 725 to
870 rupees per share, which would mark a premium of 25 to 50
percent on Wednesday's close, according to Reuters calculations.
* Shares in India's Jet Airways rose as much as 6
percent.

 (abhishek.vishnoi@thomsonreuters.com /;
abhishek.vishnoi.reuters.com@reuters.net)
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