India's Jet surges on reports Etihad may buy 10-12 pct stake from owners
NEW DELHI, March 8
NEW DELHI, March 8 (Reuters) - Shares in India's Jet Airways extended gains to more than 13 percent on Friday, after CNBC TV18 reported that Abu Dhabi's Etihad Airways may buy a 10-12 percent stake in the company directly from promoters.
Etihad may pay as much as 750 rupees ($13.75) a share for the stake, the report said.
Etihad has been in talks with Jet to buy a 24 percent stake, government sources have told Reuters.
The channel said Etihad may buy the remaining stake by issuing preferential shares.
($1 = 54.5350 Indian rupees) (Reporting by Anurag Kotoky; editing by Malini Menon)
- Tweet this
- Share this
- Digg this
Trending On Reuters
Finance Minister Arun Jaitley on Saturday unveiled a budget that aims to ramp up growth, aided by a slowed pace of fiscal deficit cuts and a raft of tax measures to put private domestic and foreign capital to work. Read | Full Coverage