India's government said on Monday it plans to sell its entire interest in A...
NEW DELHI - India’s government said on Monday it plans to sell its entire interest in Air India Ltd, in a renewed push to sell the airline after an attempt to sell a majority stake almost two years ago failed to draw any bids.
A document released on Monday showed March 17 as the deadline for submission of initial expressions of interest, and that any bidder must agree to assume 232.87 billion rupees in debt plus other liabilities. The potential sale of an airline kept aloft by a $4.2 billion 10-year bailout in 2012 comes as the administration of Prime Minister Narendra Modi divests of money-losing assets to manage the fiscal deficit.
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