India's Jet Airways soars on Etihad deal reports
New Delhi, March 8, 2013
Shares in India's Jet Airways extended gains to more than 13 per cent on Friday, after CNBC TV18 reported that Abu Dhabi's Etihad Airways may buy a 10-12 per cent stake in the company directly from promoters.
Etihad may pay as much as Rs750 ($13.75) a share for the stake, the report said.
Etihad has been in talks with Jet to buy a 24 per cent stake, government sources have told Reuters.
The channel said Etihad may buy the remaining stake by issuing preferential shares.-Reuters