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Tata Sons in talks to buy out AirAsia India stake at steep discount - report

Reuters
·1-min read
AirAsia planes are seen on the tarmac of Kuala Lumpur International Airport 2 (KLIA2) in Sepang

BENGALURU (Reuters) - Indian conglomerate Tata Sons is in talks to buy out AirAsia Group Bhd's stake in their airline joint venture in India at a steep discount, the Business Standard newspaper reported on Thursday, citing banking sources.

Tata Sons will likely tie up with other financial investors to acquire AirAsia's 49% stake in the venture, according to the newspaper.

Malaysian budget carrier AirAsia said earlier in the day that it was in talks to raise more than 1 billion ringgit ($234.52 million) in funds, a day after its auditor cast doubt on its ability to continue as a going concern.

Tata Sons declined to comment. AirAsia did not immediately respond to a request for comment.

(Reporting by Anuron Kumar Mitra in Bengaluru; Editing by Anil D'Silva)