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.
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