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Dec 11, 2012
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Kingfisher Airlines may fly past Jet Airways in the race for alliance with Etihad Airways
Vijay Mallya's Kingfisher Airlines has emerged as the dark horse in the race for a strategic alliance with Etihad Airways as the possible deal between Naresh Goyal's Jet Airways and the Abu Dhabi-based airline may flounder on valuations. There were reports on Tuesday in certain section of the media that Etihad would pay Rs 3,000 crore for a 48% stake in Kingfisher. That values the airline at Rs 5,600 crore, almost four-and-a-half times more then its existing market cap of Rs 1,261 crore. Sources within Kingfisher said that there is no finality on the structure of the deal as yet and that decision would depend on Etihad deciding which airline it wants to invest in.
Source -
http://economictimes.indiatimes.com
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