BANGALORE: Buoyed by the response to Air Deccan open offer, UB chairman Vijay Mallya hinted that he may be interested in hiking stake in the low-cost carrier to 51%, making it a direct subsidiary of his group.
Mallya’s UB Holdings has made the mandatory open offer for 20% stake in Air Deccan’s parent Deccan Aviation after it picked up 26% through preferential allotment in May this year. UB made the offer for 27 million outstanding shares, and has received in excess of 20 million shares till Friday morning. The open offer process, managed by Edelweiss, is closing on October 1.
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Saturday, September 29, 2007
Mallya may go for 51% in Deccan to fly abroad
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