India's Jet surges on reports Etihad may buy 10-12 pct stake from owners

NEW DELHI, March 8 Fri Mar 8, 2013 3:01pm IST

Stocks

   

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)

  • Most Popular
  • Most Shared

Pending Reform

REUTERS SHOWCASE

Power Theft

Power Theft

India to invest $4 billion to tackle power theft  Full Article 

Debt Funds

Debt Funds

India monitors foreign flows into debt funds, may tighten rules  Full Article 

Bulgari Back in India

Bulgari Back in India

CEO: we shouldn’t have left India so we’re back  Full Article 

 Hindu "Modi-fication"

Hindu "Modi-fication"

Fears grow about Hindu "Modi-fication" of education  Full Article 

Weak Credit

Weak Credit

Hard to hit tax revenue target, credit weak - Jaitley  Full Article 

China Rate Cut

China Rate Cut

China surprises with interest rate cut to spur growth  Full Article 

Gold Imports

Gold Imports

RBI cautious on response to gold import surge  Full Article 

Economic Corridor

Economic Corridor

China commits $45.6 billion for economic corridor with Pakistan  Full Article 

Overseas Funds

Overseas Funds

RBI says overseas borrowed funds can be parked with banks in India  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage