| Log in

Mallya Says He Is No More In Race For SpiceJet, Finds Deal Expensive

19 August, 2008

In an interesting development, the liquour-to-aviation tycoon Vijay Mallya (pictured) said he is no more in the reckoning to acquire India’s most sought after low cost carrier SpiceJet Ltd. The founder of Kingfisher Airlines told media that he had made an offer to buy SpiceJet but was rebuffed as the price was considered low by the latter. Mallya also found SpiceJet’s asking price too steep.

“I did discuss with the management of SpiceJet, I won’t deny that, but I like to do good deals and I won’t do expensive deals,” Mallya told journalists, according to Reuters. “They have aspirations which I cannot meet. I made an offer which I considered good for Kingfisher.”

SpiceJet has been in news as it was seen as a hot acquisition target of companies like Kingfisher Airlines and investors like Wilbur Ross Jr. The company is also said to be wooed by Anil Dhirubhai Ambani Group and South-India’s Paramount Airways. The company already has investments from the Tata Group and Dubai’s Isthitmar.

 


Leave Your Comment
SpiceJet May Choose Wilbur Ross Over Vijay Mallya

SpiceJet May Choose Wilbur Ross Over Vijay Mallya

Madhav A Chanchani 9 years ago
SpiceJet, the Gurgaon-based low cost carrier, is believed to be sewing up a deal...
Kingfisher Airlines Flies Towards Point Of No Return

Kingfisher Airlines Flies Towards Point Of No Return

Reuters 6 years ago
Rich, famous and well-connected may not be enough for liquor baron Vijay Mallya...
Sun & Sky: Kalanithi Maran May Board SpiceJet For Aviation Debut

Sun & Sky: Kalanithi Maran May Board SpiceJet For Aviation Debut

Madhav A Chanchani 7 years ago
Sun TV Networks honcho Kalanithi Maran may be close to picking up a substantial...
No Comments

Mallya Says He Is No More In Race For SpiceJet, Finds Deal Expensive

Powered by WordPress.com VIP