Etihad Airways expected to acquire upto 24% stake in Jet Airways, according to reports.
Reports said that the two airline may strike an agreement after months of negotiations.
Jet Airways promoter Naresh Goyal and Etihad Airways CEO James Hogan met Civil Aviation Minister Ajit Singh and discussed their plans for an alliance. Hogan also met Commerce Minister Anand Sharma.
The deal may be valued the Indian carrier at $1.2 bn, or 63.80bn, which is 19% higher than the current market cap of 5,371 crore.
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.