The Foreign Investment Promotion Board (FIPB) on Friday deferred its decision on the Rs 2,058 crore Jet-Etihad deal, the largest foreign investment in the Indian aviation sector.
Last month, capital market regulator Sebi and fair trade watchdog CCI had sought more clarity on the Jet-Etihad deal to ensure overall competition in the aviation market is not affected and interests of public shareholders and consumers are protected.
While the queries raised by the two regulators were different, both of them are concerned about certain contours of the transaction that indicate a larger control of Etihad in Naresh Goyal-led Indian carrier despite the purchase of only 24 per cent stake, according to sources.
Full report here Economic Times
