November 21, 2012 / 5:19 AM / 5 years ago

MARKET EYE-Kingfisher up on report UB Holdings may sell property

1 Min Read

* Shares in Kingfisher Airlines rise 1.5 percent after
The Economic Times newspaper reported Blackstone has made
an offer to buy prime office and retail real estate property
from investment holding company UB Holdings, citing two people
familiar with the developments.
* A spokeswoman for Blackstone declined to comment on the report
calling it "a pure speculation story." A UB Group spokesman also
declined comment.
* Nonetheless, dealers say the media report about a potential
deal is raising hopes Indian billionaire Vijay Mallya, who
controls Kingfisher and UB Holdings, could use any money raised
to inject into the debt-laden carrier.


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