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Tata group not in talks with airlines on Air-India

The Tata group said on Monday it has not initiated formal talks with any other airline to join its bid for a 40 per cent stake in Air India.

"Tata Sons wishes to clarify that it is still assessing the situation arising from Singapore Airlines' withdrawal from the divestment process, and has not initiated any formal talks with any other airline," the Tata group said in a statement.

The statement comes amidst reports that the group was exploring partnership possibility with United Airlines, Delta and Air France on A-I divestment.

The statement further said, "Tata Sons would also like to clarify that contrary to media reports, Ratan Tata has no appointments to discuss this issue with the Central government in Delhi next week."

Earlier in the day Civil Aviation Minister Shahnawaz Hussain said that a decision on A-I divestment would be taken next week after Ratan Tata meets him and Divestment Minister Arun Shourie.

Singapore Airlines, which had bid along with the Tata group, pulled out of the bidding for Air-India on September 1, citing opposition to the privatisation of the airline from various quarters. The Tata group had then said it was reassessing the situation with an 'open mind'.

The Tata-SIA consortium was the only remaining bidder for the Indian flagship airline.

A day before SIA announced its withdrawal from the joint bid, Ratan Tata had gone on record that Tata-SIA consortium was still in the race for A-I stake.

Tata Sons is a holding company of the Tata group, India's second largest business conglomerate.

With additional inputs from PTI

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