CaliguyNYC wrote:edealinfo wrote:Latest news;
Banks to convert Rs 800 crore and waive Rs 800 to Rs 1000 crore in debt and secure 51 percent of Jet equity. Stage 2 will be a rights issue priced at Ethihad quoted Rs 150 a share. Post rights issue, etihad would hold 40 to 46 percent and Naresh Goyal, the lord almighty, would hold 20 to 22 percent. Looks like the plans will continue to be fine tuned until Feb 21. The government, through its banks, won’t let Jet fall, as I predicted.
https://www.google.com/amp/s/www.dnaind ... 714002/amp
Yup as expected. Now lets see if they actually push Goyal from management. Then perhaps this saga can end. Unfortunately EY plus Goyal will still have control. Funny how that happens.
My hunch is that with 22%, Naresh Goyal (NG) will still tight for awhile, and plot and scheme to "some day" regain control - it is in his blood not to give up on his "baby"/creation. The winds blow constantly in India's highly charged political environment and NG how to play the game, having been at it for over 25 years.