After shelling out Rs. 180 crore.
Their grand plans to buy
Sahara and rule the sky
Have run aground, with more losses in store!
Hindustan Times 27/06/06: Sahara to sue Jet for 2000 crore; argues that deal was engineered to destroy market competitor. Jet on the other hand has cited 'commercial reasons' for not wanting the buy-out. Read more about this Jet-Sahara intrigue here and here
I was jus reading abt this yesterday and that article rightly pointed out tht Jet has been quite unethical in all this messy affair. The real loser is I think Sahara. Not only Jet withdrew Sahara flights that were not interesting to them, they've left a once fierce competitor into a weakling now!
ReplyDeleteLots of skeltons in the cubbords of both Jet and Sahara will come tumbling out in the days to come.
ReplyDeleteWhile after much wrangling Mittal-Arcelor have managed to strike a deal, no such thing seems possible in the Jet-Sahara case as there is more than what meets the eye.
There is one line of thought that says that Jet realised they had overvalued the Sahara deal and now want out. It will indeed be interesting to see how this story develops.
ReplyDelete