November 15, 2018 / 9:35 AM / 6 months ago

BUZZ-India's Jet Airways posts best day in over 3 yrs; Tata Sons chair to pitch buyout to board - report

** Shares of cash-strapped carrier Jet Airways surge as much as 17.5 pct to 302.95 rupees, their highest since Aug. 28

** Tata Sons’ Chairman N. Chandrasekaran is expected to present to the board on Friday a business viability plan on a proposed acquisition of Jet, local daily Times of India reported

** Plan to touch upon long-term financial goals as well as on the proposed path for combining Jet and Vistara - a JV between Tata Sons and Singapore Airlines Ltd, the report said

** An Economic Times report said Tata and Jet are inching toward a two-step transaction that would first see Jet merge with Tata SIA through a share-swap

** Shares hit biggest intraday gain since July 29, 2015

** More than 29.8 mln shares traded, three times their 30-day moving avg of 9.5 mln shares

** Stock down 69 pct this year as of last close

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