Anil Ambani may help Mallya buy Air Deccan

Mumbai: After Jet Airways buyout of Air Sahara, this could be the next big thing in Indian skies. The king of good times Vijay Mallya may join hands with Anil Ambani to snap up Air Deccan.
NDTV has learned that Anil Ambani may invest $150-$200 million in Kingfisher and the airline in turn will try and buy equity in Deccan Aviation.
However, senior executives in Anil Dhirubhai Ambani Group (ADAG) denied that the group was interested in buying stakes in Deccan Aviation or tying up with Vijay Mallya to do so.
If Anil Ambani and Vijay Mallya go for the deal, it could take the battle between Ambani brothers into the sky. NDTV also learnt from sources that Mukesh Ambani might have pumped money into Jet Airways.
Mukesh Ambani has invested nearly Rs 250 crore for an equity stake in Jet Airways. Mukesh's cash could not have come at a better time for Naresh Goyal as he has to pay Rs 400 crore to fund his expensive acquisition of Air Sahara.
If the Anil Ambani-Vijay Mallya deal takes off, it will make sense for Mallya as he will get funds to bid for Air Deccan.
03/05/07 Rumi Dutta/NDTV.com

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Categories: Air Deccan May 2007, Kingfisher May 2007