Indian government delays may force Singapore International Airlines (SIA) to pull out of the bidding for a stake in Air India, according to media reports.
SIA had teamed up with the Tata group to bid for a 40% stake in Air India. However, a Tata official said the Tatas would go ahead anyway, if SIA quit the race.
He was quoted as saying, “Our bid is irrespective of SIA. We are open to rope in a new partner.”
If SIA exits, the Tatas will be the only bidder left. The Hinduja brothers were the other candidates, but were disqualified by a government committee that cited security reasons.
- nriol.com report
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