November 21, 2012 / 5:39 AM / 5 years ago

Kingfisher up on report UB Holdings may sell property

Reuters Market Eye - Shares in Kingfisher Airlines(KING.NS) rise 1.5 percent after The Economic Times newspaper reported Blackstone(BX.N) 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.

Women walk past a closed booking office of Kingfisher Airlines in New Delhi October 1, 2012. REUTERS/Mansi Thapliyal/Files

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 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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