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CCI to take up Jet-Etihad deal on Oct 14

PTI | Last Updated: Thursday, October 10, 2013 - 19:33

New Delhi: Fair trade watchdog Competition Commission will discuss on October 14 the Rs 2,058 crore Jet-Etihad deal, the largest foreign investment proposal in the domestic aviation sector.

The much-talked about deal, approved by the Cabinet last week, is awaiting the Competition Commission of India nod.

"Jet-Etihad deal is coming before the commission on Monday (on October 14). Let's see what happens. There will be a discussion in the Commission on Monday morning," CCI Chairman Ashok Chawla said today.

Speaking to reporters on the sidelines of an event here, he said that the CCI has received the information it had sought on the deal.

Abu Dhabi-based Etihad has proposed to buy 24 percent of stake in Jet Airways for Rs 2,057.66 crore.

The deal has received clearance from the Securities and Exchange Board of India as well as the Foreign Investment Promotion Board.

The FDI policy for civil aviation, which was revised in September last year, allows foreign airlines and foreign institutional investors to invest up to 49 percent in an Indian airline.

First Published: Thursday, October 10, 2013 - 19:33
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