Jet shares falls on Etihad deal worries

Jet shares falls on Etihad deal worries

Last Updated: Mon, Mar 18, 2013 11:21 hrs
A Jet Airways aircraft waits for take off on the tarmac at the airport in Mumbai

Jet Airways Ltd shares fall as much as 13.6 percent after local media including CNBC TV18 and NDTV reported a planned deal to sell a stake in the to Abu Dhabi's Etihad may be called off, citing unnamed sources, but shares sharply pare losses after the carrier calls the reports "incorrect".

In a statement, a Jet spokeswoman calls media reports on the deal "incorrect and speculative", declining to elaborate.

Etihad has been in talks to buy a 24 percent stake in Jet, Indian government sources have said previously.

Jet shares ended down 2.9 percent.

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