Etihad wins CCI nod for $325 mln Jet Air stake buy

NEW DELHI Tue Nov 12, 2013 8:33pm IST

A Jet Airways passenger aircraft takes off from the airport in Ahmedabad August 12, 2013. REUTERS/Amit Dave/Files

A Jet Airways passenger aircraft takes off from the airport in Ahmedabad August 12, 2013.

Credit: Reuters/Amit Dave/Files

Related Topics

Stocks

   

NEW DELHI (Reuters) - The Competition Commission of India (CCI) has approved Etihad's $325 million deal to buy a 24 percent stake in Jet Airways(JET.NS), the regulator said on its website on Tuesday.

Jet said last month it expected to complete the transaction this quarter. It already has the cabinet's approval.

"...the Commission is of the opinion that the proposed combination is not likely to have appreciable adverse effect on competition in India and therefore, the Commission hereby approves the same...," the CCI said on its website.

(Reporting by Devidutta Tripathy; Editing by Louise Ireland)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Press Event

Press Event

Modi takes tea, but no questions, in first press event as PM.  Full Article 

Monetary Policy

Monetary Policy

Finance Minister Arun Jaitley favours interest rate cut - paper  Full Article 

Sundar Pichai Elevated

Sundar Pichai Elevated

Google's Pichai to oversee major products and services.  Full Article 

Reuters Poll

Reuters Poll

India's growth pace to pick up as reforms draw investment   Full Article 

Need For Reforms

Need For Reforms

Euro zone risks "relapse into recession" without structural reforms - Draghi.  Full Article 

Diwali Sales

Diwali Sales

Gold sales jump about 20 pct for Diwali - trade body  Full Article 

World Bank Rival

World Bank Rival

Three major nations absent as China launches W.Bank rival in Asia  Full Article 

Health Of Lenders

Health Of Lenders

25 European banks set to fail health checks - sources.  Full Article 

Reuters India Mobile

Reuters India Mobile

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