Jet Airways soars 8% on report of Tata Group, co initiating second round of talks

According to a report by CNBC-TV18, the talks are aimed at buying Jet Airways’ promoters’ and Etihad’s stake in the company. If the deal goes through, the Group has also sought to merge Vistara with Jet Airways.

New Delhi, November 06, 2018: Shares of Jet Airways soared 8 percent on Monday based on a media report that Tata Group and the airline have initiated second round of discussions on a possible deal.

According to a report by CNBC-TV18, the talks are aimed at buying Jet Airways’ promoters’ and Etihad’s stake in the company.

If the deal goes through, the Group has also sought to merge Vistara with Jet Airways according to the reports published in moneycontrol.com.

The channel further quoted sources that the Tata Group has shown interest in the airline as its international presence is a key attraction along with the airline possessing wide-bodied aircraft.

The stock has risen over 36 percent in the past one month, while in the past three days, it has risen 9 percent. At 14:10 hrs Jet Airways was quoting at Rs 242.00, up Rs 12.95, or 5.65 percent, on the BSE. It touched an intraday high of Rs 246.55 and an intraday low of Rs 226.95.

Leave a Reply

Your email address will not be published. Required fields are marked *