Jet Airways denies report on Temasek talks
MUMBAI (Reuters) - Jet Airways, India's largest private carrier, on Wednesday denied a newspaper report it would sell a 10 percent stake to Singapore state investor Temasek Holdings for 2.5 billion rupees ($50 million).
"With regard to this particular news item, we wish to clarify that it is not correct," Jet said in a statement to the stock exchange.
The Economic Times, citing unnamed sources, reported on Wednesday the airline was in advanced negotiations to sell the stake to Temasek.
Separately, a Jet executive said other reports of fund raising were also incorrect.
"Everything reported in the papers is false and incorrect," Saroj Datta, executive director at Jet Airways, told Reuters.
The Mint and Business Standard papers reported on Wednesday the airline was in talks with Abu Dhabi state-owned Mubadala Development Co for funding of 10 billion rupees.
Shares of Jet Airways closed down 2.14 percent at 184.80 rupees in a weak Mumbai market. ($1=49.2 rupees)
© Thomson Reuters 2009 All rights reserved
India Investment Summit 2009
Top executives and bankers discuss their own plans and the broader opportunities and challenges for India. Full Coverage
GLOBAL RECOVERY
Global economy in holding pattern - IMF
The global economy is in a holding pattern and vulnerable to more upheaval, the head of the IMF said, adding a lasting recovery will depend on policymakers taking the proper steps in the coming months. Full Article
India
US
UK
