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India's Jet shares surge on TV report near deal to sell stake to Etihad

Source : REUTERS
Last Updated: Wed, Feb 27, 2013 08:00 hrs

NEW DELHI, Feb 27 (Reuters) - Shares in Jet Airways surged as much as 19.7 percent on Wednesday after TV channel ET Now reported Etihad Airways is close to a deal to purchase a 24 percent stake in the Indian carrier, citing unidentified sources.

ET Now reported Abu Dhabi's Etihad has already paid a "token" amount of $70 million, and will likely pay $400 million in the first tranche of the deal, the channel reported.

Jet shares were up 17.8 percent as of 0749 GMT.

(Reporting by Anurag Kotoky; Editing by Rafael Nam)




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