Shares in Jet AirwaysBSE 9.93 %extended gains to more than 13 per cent on Friday, after a news channel reported that Abu Dhabi's Etihad Airways may buy a 10-12 per cent stake in the company directly from promoters.
Etihad may pay as much as Rs 750 ($13.75) a share for the stake, the report said.
Etihad has been in talks with Jet to buy a 24 per cent stake, government sources said.
The channel said Etihad may buy the remaining stake by issuing preferential shares.
I already posted today morning about possible oppen offer by Ehihad for Jet Airways
IF ETIHAD BUYS MORE THAN 24% IN JET THEN AN OPEN OFFER WILL TRIGGER.....
RETAIL SHAREHOLDERS WILL BE BENEFITED.I EXPECT STAKE SALE MAY BE AROUND 700/- PER SHARE AS PER LATEST FINANCIALS OF JET AIRWAYS
SO I RECOMMEND BUYING JET AIRWAYS AT Rs.510 LEVELS FOR TARGET OF Rs.700