India has so far not received a formal proposal from Etihad for investing in Jet Airways(JET.NS), trade minister Anand Sharma told reporters on Thursday.
Etihad has been in talks with Jet to buy a 24 percent stake, government sources have told Reuters.
"We have not received any formal proposal, so far," Sharma said on the deal.
An official at the trade ministry had said in January that Etihad would soon apply to India's foreign investment approval authority for investing in Jet.
Trending On Reuters
Indian lenders are struggling to find new owners for unprofitable steel and infrastructure companies they took over under a debt-for-equity swap, a warning sign for China, which is launching a similar scheme. Full Article