Mumbai: A spokesman for Reliance Industries denied on Wednesday a newspaper report the energy major was in talks to buy a stake in cash-strapped Kingfisher Airlines. A newspaper had reported that Reliance might make a financial investment or pick up a stake through a preferential offer bythe carrier, which could be followed up by an open offer to public shareholders.
Citing an unnamed person close to the airline, the paper said Reliance was understood to have engaged a merchant banker to carry out due diligence of the carrier.
16/11/11 Reuters/Times of India
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