Jet shares fall on Etihad deal worries

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Reuters
Last Updated : Mar 18 2013 | 4:40 PM IST

Reuters Market Eye - 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.

(Reporting by Devidutta Tripathy)

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First Published: Mar 18 2013 | 4:29 PM IST

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