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Reuters exclusviely reports Tata Group unlikely to bid for Air India as terms too onerous

Reuters exclusviely reports Tata Group unlikely to bid for Air India as terms too onerous

Reuters exclusively reported that India’s steel-to-autos conglomerate Tata Group, widely seen as a potential suitor for Air India, is unlikely to consider a bid for the state-run carrier as the government’s terms are just too onerous. India, keen to sell the loss-making, debt-ridden airline, finalized plans in late March to divest a 76 percent stake and offload about $5.1 billion of its debt. But the government has stipulated the winning bidder cannot merge the airline with existing businesses as long as the government holds a stake.