Tata Sons in talks to buy out AirAsia India stake at steep discount

BENGALURU: Indian conglomerate Tata Sons is in talks to buy out AirAsia Group Bhd’s stake in their airline joint venture in India at a steep discount, an english business newspaper reported on Thursday, citing banking sources.

Tata Sons will likely tie up with other financial investors to acquire AirAsia’s 49% stake in the venture, according to the newspaper.

Malaysian budget carrier AirAsia said earlier in the day that it was in talks to raise more than 1 billion ringgit ($234.52 million) in funds, a day after its auditor cast doubt on its ability to continue as a going concern.