New Delhi: UAE-based carrier Etihad Airways' stake acquisition in Jet AirwaysBSE -2.59 % is set to get a finance ministry boost. The ministry is sticking to the stand that the deal has been cleared and there's nothing more it has to say on the first investment in an Indian airline by a foreign carrier.
The ministry, which houses the Foreign Investment Promotion Board (FIPB), is expected to respond soon to the Securities and Exchange Board of India (Sebi), which is examining afresh whether the acquisition triggered the market regulator's takeover code.
"The FIPB had examined the deal as per provisions of the foreign direct investment policy and cleared it after ample due diligence," said a finance ministry official.
Read news in full 17/03/14 Deepshikha Sikarwar & Vinay Pandey/Economic Time
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