FIPB defers decision on Jet Airways-Etihad deal

6/16/2013
The Foreign Investment Promotion Board (FIPB) deferred a decision on Rs. 2,000-crore Jet Airways-Etihad deal in aviation sector and sought clarity on control and ownership in this regard.

The FIPB meeting was held under the Chairmanship of the Economic Affairs Secretary Arvind Mayaram in New Delhi.

Talking to reporters after the meeting, Mayaram said that as per the proposal, Jet Airways plans to sell 24 per cent stake to Abu Dhabi-based Etihad for about Rs. 2,000 crore.

However, the FIPB cleared the FDI proposal of Norway's Telenor to hike stake in its domestic subsidiary to 74 per cent.

Telenor is seeking government approval to hike stake by 25 per cent in its domestic subsidiary Telewings.
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