SpiceJet says not in talks with Religare

Mumbai: SpiceJet Ltd said on Tuesday after market hours that it was not in discussion with Religare Voyages to sell a stake in the budget
airline. Earlier in the day DNA paper had reported that promoters of the airline were in talks with the firm to sell stake sending up the shares of the airline, which ended up 7.3 percent in a flat Mumbai market.
Religare Voyages, an air charter and travel business firm, is owned by billionaire Malvinder Singh. Singh, who stepped down as chairman of Religare Enterprises to focus on his healthcare business declined to comment on the report in Delhi. SpiceJet has also been approached by the founder of Sun TV, who is keen to buy a majority stake in the carrier as well as an entity run by Anil Dhirubhai Ambani Group, Indian newspapers reported last week.
SpiceJet officials declined to comment on the specific reports, but its director Ajay Singh said on March 31 that promoters of the firm would not sell stake at current valuations.
06/04/10 Reuters/Economic Times

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Categories: spicejet Apr 2010