On Monday, the government issued a letter of intent (LoI) confirming the sale of its 100 per cent stake in loss-making Air India to the Tata Group for Rs 18,000 crore, a senior official said.
New Delhi, October 11 (PTI): The government on Monday issued a letter of intent (LoI) confirming the sale of its 100 per cent stake in loss-making Air India to Tata Group for Rs 18,000 crore, a senior official said.
The Central government on Friday declared Tata Sons subsidiary Talace as the highest bidder for national carrier Air India under the divestment process.
Last week, the government had accepted an offer by Talace Pvt Ltd, a unit of the holding company of salt-to-software conglomerate, to pay Rs 2,700 crore in cash and takeover Rs 15,300 crore of the airline's debt.