Aviation

Jet slips 3%, Etihad may not make any open offer

MUMBAI

Shares of Jet Airways fell over 3 percent intraday as reports suggest that Etihad may not have to make an open offer for the airline as Sebi is likely to rule in favour of Etihad Airways this week.

In a regulatory hurdle for Rs 2,060 crore Jet-Etihad deal, the capital market regulator had initiated proceedings against the Abu Dhabi carrier, whose officials were called for personal hearing to explain their stance.

“Sebi was convinced by the arguments put forward by the Abu Dhabi-based airline. Etihad had argued that the definition of control under the takeover code should be looked at differently from that in the competition law,” the report quoted.

Read more at Moneycontrol

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