Tuesday, December 12, 2006

Tata, Anil Ambani eye business in the sky

Ratan Tata and Anil Ambani will race each other in India's skies but this time around, the king of Indian skies, Naresh Goyal will be watching from the sidelines.
As Anil Ambani and Ratan Tata armour-up to command a sizable share of the Indian aviation industry.
Ratan Tata's acquisition of around 10 per cent equity in SpiceJet comes at a time when Anil Ambani is quietly building up a position in Captain Gopinath's Air Deccan and Ambani's group holding is understood to be around seven per cent in the budget carrier.
For now Tatas maintain that theirs is a financial and not a strategic investment.
While the group maintains that this investment of around Rs 100 crore is just a financial investment and not a strategic one, it clearly marks the group full-fledged foray into the aviation business.
11/12/06 Rumi Dutta Hardasmalani/NDTV.com