CCI to hold more discussions before taking final view on Jet-Etihad deal

New Delhi: Fair trade watchdog Competition Commission will have more discussions before taking a final view on the proposed Rs 2,058 crore Jet-Etihad deal, the single largest foreign direct investment so far in Indian aviation sector.

Naresh Goyal-promoted Jet Airway’s proposed sale of 24 per cent stake to Abu Dhabi-based carrier Etihad has already received the government clearance.

Sources said the Competition Commission of India (CCI) is yet to take a final view on the proposed deal. The regulator would have more discussions before taking a call, they added.

[caption id=“attachment_1192589” align=“alignleft” width=“380”] A Jet Airways aircraft is seen in this file photo. Reuters[/caption]

CCI, which has the mandate to keep a tab on unfair trade practices at market place, had sought more information from the concerned parties on the proposed transaction.

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The deal was approved by the Cabinet Committee on Economic Affairs (CCEA) earlier this month. It has also received green signal from capital market regulator Securities and Exchange Board of India (Sebi) as well as the Foreign Investment Promotion Board (FIPB).

Post the transaction, Naresh Goyal would have 51 per cent in Jet Airways while Etihad would hold 24 per cent. The remaining shareholding would be with the public.

PTI