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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 Research Team / 15:28, Mar 13, 2015
Markets are now reinforcing the perception of an early interest rate hike by US Federal Reserve, with consensus calling for the hike taking place in June, when compared with the prior expectations of a hike in September.