The Rs. 2,060-crore Jet-Etihad deal seems to have hit a fresh round of regulatory turbulence, with the Abu Dhabi carrier rejecting any obligation to make an open offer for minority shareholders of the Indian carrier.
While Etihad has told Sebi that it has not violated any securities law by not making an open offer, the capital market regulator is now seeking further clarity on the issue from other agencies including fair trade watchdog CCI, Finance Ministry and Aviation Ministry, sources said.
A query sent to both Etihad and Jet regarding the issue remained unanswered.
While Sebi had earlier contended that an open offer might not be required if Etihad is classified as a 'public shareholder' after buying Jet's 24 per cent stake, it had put a caveat saying this observation could change if some other regulator points out at transfer of control in this deal.
Read news in full 11/03/14 PTI/NDTV
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