SpiceJet Chairman Denies Stake-Sale Talks on With Jet Airways

SpiceJet Ltd., India's second- biggest low-fare airline, denied a newspaper report the airline is in stake-sale talks with Jet Airways (India) Ltd.
``It's not true,'' SpiceJet Chairman Siddhanta Sharma told Bloomberg News in a telephone interview in New Delhi today.
Jet Airways may buy stakes held by Royal Holding Services Ltd. and Dubai, United Arab Emirates-based Istithmar in SpiceJet, the Business Standard reported, citing people it didn't identify.
``Royal Holdings is under the binding clause of the shareholders agreement, according to which it can not sell the stake,'' Sharma said.
Jet Airways Chief Executive Officer Wolfgang Prock-Schauer said no talks are being held with SpiceJet on the acquisition, the newspaper reported.
15/06/07 Kartik Goyal/Bloomberg

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Categories: Kingfisher Jun 2007, SpiceJet Jun 2007