close
This ad will auto close in 10 seconds


Jet stock surges 17% on talk FIPB to approve Etihad deal

Last Updated: Friday, July 26, 2013 - 16:39

Mumbai: Shares of Jet Airways ended up 17.4 percent on Friday after traders said the Foreign Investment Promotion Board was likely to approve a planned stake sale to Etihad Airways.

Jet Airways and Etihad Airways officials were not immediately reachable for comment on the market speculation. A spokesman for the finance ministry, which oversees FIPB, declined to comment.

The FIPB, which clears foreign direct investment proposals, is scheduled to consider the Jet-Etihad deal at its meeting on Monday and traders said it may be approved.

The FIPB last month deferred a decision on Jet's plan to sell a 24 percent stake to Etihad.

Reuters

First Published: Friday, July 26, 2013 - 11:10
comments powered by Disqus