Tata Sons will likely tie up with other financial investors to acquire AirAsia's 49% stake in the venture
Ratan Tata, Chairman Emeritus of The Tata Group (R) and Air Asia Group CEO Tony Fenandes. Tata Sons is in talks to buy out AirAsia Group Bhd's stake in their airline joint venture in India. (AFP Photo)
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.
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