Kingfisher to sell stake but to whom >?

Vijay Mallya and his company is anxiously waiting for a buyer possibly (Dubai carrier Emirates) to buy stake in this company. Recently Mallya was trying to communicate with top Emirates officials in Singapore at Formula 1 event. Marketwatch.com has reported that Mallya was also in touch with  Diageo about the sale of a stake in his drinks company United Spirits.


Just for note : Kingfisher airlines has a debt of between Rs 7,500 crore and Rs 8,000 crore on its books

Civil aviation minister has made it clear that they will revoke Kingfisher's licence if number of operational planes falls below 5.

Hmm,,,now you can think who were the people lobbying for FDI

Here is the news verification from Kingfisher

News Verification : The media had reports on September 27, 2012 that Kingfisher Airlines Limited is in talks with foreign carriers as well as domestic investors to sell stake. The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the company. Kingfisher Airlines Limited has vide its letter inter-alia stated, "The company is in talks with foreign carriers as well as domestic investors to sell a stake, pertains to a statement of a very general nature, which in our view can hardly be classified as price- sensitive information, given that these are self-evidently at preliminary stages. In any case, the fact that the Company has been attempting to raise much needed capital over the last 2 years pursuant to shareholders resolutions approving the same and duly reported to the stock exchanges, has been widely reported in the media for a long time. We would like to clarify that even this general non-price sensitive information was shared with the shareholders only as a response to the queries raised by various shareholders regarding equity investment in the Company, at the venue of the Annual General Meeting of the Company held on 26th September, 2012."

Source : Nseindia.com