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Jet Airways falls as Tata Sons tamps down deal speculation

Reuters  |  NEW DELHI 

NEW DELHI (Reuters) - Shares in Jet Airways (India) Ltd. fell as much as 12.5 percent to 303.05 rupees on Monday, their biggest intraday percentage loss since Aug. 10, after Indian conglomerate Tata Sons ended speculation that a deal with the struggling carrier was imminent. Tata said on Friday it is only in preliminary talks with Jet Airways and has not made a proposal to acquire a stake in the debt-laden airline. Reports of Tata Sons being close to buying a majority stake had sent Jet Airways' shares higher last week.The carrier is undertaking a review of its business to cut costs and boost ...

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First Published: Mon, November 19 2018. 14:34 IST