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To control SpiceJet (1)   06-Jul-08 03:45Tracked by (0)  
Posted by:   rvk41 on ( 06-Jul-08 03:45 )
Price : BSE: Rs 239.50 ( 2.00 % ), NSE: Rs. 236.80 ( 0.47 % )
Kingfisher Airline is in negotiations with two majority shareholders of SpiceJet to buy the low-cost airline in all cash deals reports Economic Times.

Kingfisher boss Vijay Mallya is negotiating with Gulf based fund Istithmar and UK based Kansagra family. Together they hold 26.3% in SpiceJet; acquisition of more than 20% would lead to an open offer as per SEBI rules.

If Kingfisher acquires the airliner it will hold more than 40% market share in SpiceJet and be able to control the pricing on key routes. SpiceJet is looking to raise USD 100 million from the markets
For information,with regards
rvk41

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