Jet Airways shares surge 20% on Etihad Airways stake sale report
Reuters: New Delhi, Feb 27 2013, 13:26 IST
Jet Airways shares surged as much as 19.7 percent on Wednesday after TV channel reported Etihad Airways is close to a deal to purchase a 24 percent stake in the Indian carrier, citing unidentified sources.
Abu Dhabi's Etihad has already paid a "token" amount of $70 million, and will likely pay $400 million in the first tranche of the deal, the channel reported.
Jet shares were up 17.8 percent as of 0749 GMT.
Previous Story Economic Survey 2013: On FDI in retail, small shops giving competition to big retailers Next Story Economy Survey 2013: India suffered peak power shortage of 9% in 2007-12
Reader's Comments| Post a Comment
Be the first to comment.
