Online edition of India's National Newspaper
Saturday, November 11, 2000

Front Page | National | Southern States | Other States | International | Opinion | Business | Sport | Miscellaneous | Features | Classifieds | Employment | Index | Home

National | Previous | Next

Govt. satisfied with response to IA equity offer

By Our Special Correspondent

NEW DELHI, NOV. 10. The Government expressed satisfaction over the response to its offer of equity to the private sector in Air India and Indian Airlines after the deadline for submission of the expression of interest expired this evening.

According to sources, at least 80 bids have been received for 40 per cent equity in Air India and three for Indian Airlines' 26 per cent equity . The bidders include the Tatas along with the Singapore Airlines and Hindujas even as Reliance kept out of the race.

Refusing to reveal the number of bids and also the identity of the bidders, the Union Disinvestment Minister, Mr. Arun Shourie, and other officials said there were enough number of players to get the best possible price.

According to the Disinvestment Secretary, Mr. Pradip Baijal, there are more bidders for Air India than expected. The response for the stake in Indian Airlines was also satisfactory.

Though its Joint Chairman, Mr. Mukesh Ambani, met Mr. Shourie, the Reliance group has not entered the race. This was confirmed by an official spokesman of the group. Among those who are believed to have made a bid for Air India are the Indian Pilots Guild, Hindujas, a consortium of Air France and Delta Airlines and the Tatas along with the Singapore Airlines.

Send this article to Friends by E-Mail


Section  : National
Previous : 'India should have 150 nuclear warheads'
Next     : Italy interested in software professionals

Front Page | National | Southern States | Other States | International | Opinion | Business | Sport | Miscellaneous | Features | Classifieds | Employment | Index | Home

Copyrights © 2000 The Hindu

Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu