Sunday, June 30, 2013

PMO seeks clarification on Jet-Etihad deal

New Delhi: The Prime Minister's Office has sought clarifications from ministries concerned, including Commerce and Industry, on the proposed Rs 2,058 crore Jet- Etihad deal.
The deal, largest foreign investment proposal in the aviation sector, is facing regulatory hurdles with various ministries raising major concerns over the ultimate control of Jet Airways post transaction.
Government sources said the Prime Minister's Office (PMO) has sought clarifications on the Jet Airways selling stake to Abu Dhabi-based Etihad Airways from ministries and departments concerned including Commerce and Industry, Civil Aviation and Corporate Affairs.
However, nature of the clarifications sought could not be immediately ascertained.
The Foreign Investment Promotion Board (FIPB), which clears FDI proposals, on June 14 had deferred a decision on the deal citing control and ownership issues.
30/06/13 PTI/ZeeNews
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