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The Indian government announced on Friday that Tata Sons has been chosen as the winning bidder to take over state-run carrier Air India, bringing an end to years of negotiations to privatise the financially ailing airline.
Tata Sons, the holding company for the autos-to-steel Tata conglomerate, bid Rs 180 billion ($2.40 billion) for the government's 100% stake in Air India, a finance ministry official told reporters.