News

No violation in Jet deal, Etihad tells Sebi

 No violation in Jet deal, Etihad tells Sebi


Abu Dhabi’s Etihad Airways has denied violating takeover rules while buying a 24 per cent stake in Naresh Goyal’s Jet Airways.In a reply to the Securities and Exchange Board of India (Sebi), the foreign airline has said it is not liable to make an open offer for the public holding in Jet as there has been no violation of the takeover code.Etihad’s main contention is the deal was cleared by both the securities market regulator and the Competition Commission of India before it was served a notice by Sebi in February. The airline had to reply to the notice within 21 days, failing which it could be asked to make an open offer.

Source : http://www.business-standard.com/article/companies/no-violation-in-jet-deal-etihad-tells-sebi-114031000809_1.html

 

Top