Wednesday, June 21, 2006

Clear picture on Sahara, Jet deal likely today

New Delhi: Uncertainty over the take-over of Air Sahara by Jet Airways, India’s largest private carrier, is likely to clear on Wednesday after the Union Home Ministry takes a decision on various issues, including those relating to security.
As speculations were rife that Jet has threatened to walk out of the Rs 2,300-crore deal, sources in the aviation industry also did not rule out the possibility of another three-month extension of the deadline for escrow account, which would expire midnight Wednesday.
While both the airlines were tight-lipped over developments, sources said Sahara has ruled out any negotiations on the valuation of the deal. It may, however, agree on an extension of the timeframe for the share purchase agreement, they said.
21/06/06 Mumbai Mirror