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Tata Sons win bid for Air India
October 04, 2021
Tata Sons have won the bid for national carrier Air India, Bloomberg has reported.
Moneycontrol has independently confirmed with sources that Tata Sons is indeed a frontrunner for the bid. “The Tatas have placed the highest bid for Air India,” the source said, adding that an official decision on the winning bid will be taken in the following next few days.
CNBC TV-18 has detailed that the government plans to complete the handover of the aircraft to its new owners by December.
Another official told Moneycontrol to know that a last political nod on the deal is awaited. The political clearance will come in two levels. At one level is the Air India-Specific Alternative Mechanism, which is an empowered group of ministers including Home Minister Amit Shah, Finance Minister Nirmala Sitharaman, Commerce Minister Piyush Goyal, and others.
Then, at that point, comes the approval of the Union Cabinet, headed by Prime Minister Narendra Modi. These approvals are just a matter of formality and are expected to be given soon.
Later in the day, the seniormost bureaucrat in charge of the government’s divestment programme said that a final decision was yet to be taken.
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