Indian ministry agrees to 26% FDI

Victoria
By Victoria December 13, 2011 16:52

Indian ministry agrees to 26% FDI

Indian newspaper reports indicate that the civil aviation ministry has agreed to the proposal of allowing foreign carriers to buy 26% stake in private airlines.

Bloomberg UTV has reported that the proposal is approved with riders and the takeover code will not be violated.

Shares in private Indian airlines jumped on the news: Kingfisher Airlines stock was up 0.84%, Jet Airways was up 1.74%, although SpiceJet was down 1.96%.

Victoria
By Victoria December 13, 2011 16:52
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