Kingfisher says Deccan open offer next week

MUMBAI (Reuters) - Kingfisher Airlines expects to renew its open offer for Deccan Aviation Ltd next week after it received approval, Chairman Vijay Mallya said.

"It should be done next week ... everything is in place," he told reporters late on Thursday on the sidelines of a conference.

Kingfisher, majority-owned by UB Holdings, bought 26 percent in budget carrier Deccan in May for 5.5 billion rupees and had made an open offer to buy a further 20 percent as required by law.

But the offer was delayed after India's capital market regulator raised queries on the funding of the offer.

Mallya has said funds were in place to cover the offer.