The Indian Finance Ministry has backed a proposal by the Department of Industrial Policy and Promotion (DIPP) to allow foreign airlines to acquire up to 26 per cent stake in domestic carriers. An overall sector cap will remain at however at 49%. Ministers have ruled that the proposal should not conflict with the Sebi takeover code, which triggers an open offer for a company if another company acquires more than a 25% stake. For example, if a foreign airline acquires a strategic stake of 26% as proposed by the DIPP, then it will have to make an open offer to
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