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Last Updated : Nov 05, 2018 02:17 PM IST | Source: Moneycontrol.com

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.

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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.

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.

Tata Group is said to be open to acquiring the company’s stake in the loyalty arm, Jet Privilege.

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.

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First Published on Nov 5, 2018 02:17 pm
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