Mumbai: KAL Airways, owned by Sun TV Network Ltd.'s (532733.BY) founder Kalanithi Maran, has bought a 37% stake in SpiceJet Ltd. (500285.BY) for INR40 a share, television channel ET Now reported Friday, citing sources it didn't identify.
KAL bought 25% of the second-biggest Indian low-fare carrier by market share from investor Wilbur L. Ross and the remaining from one of its promoters, Bhupendra Kansagra, the report said.
11/06/10 Anirban Chowdhury/Dow Jones/Zawya
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