Gulf carrier Etihad Airways is planning to acquire 48% stake in Kingfisher Airlines for Rs 30bn, according to reports.
Reports stated that a formal announcement of the deal may come around December 18.
Abu Dhabi-based Etihad will buy a 30% holding in December and a further 18% by next August, says reports.
India Infoline News Service / 09:04, Jan 22, 2015
The outlook is a flat start. The market will look to scale to new peaks though not much effort is needed for the same. HUL saw a rally and short-covering may have pulled it up further. Speculation is on that its parent will raise stake through an open offer. After the cooling in oil prices, Cairn results will be in focus.