Tata Sons Chairman N Chandrasekaran said on Wednesday it is “too early” to take a call on Air India, in which the government has decided to sell its entire 100 per cent stake. “It is too early…” Chandrasekaran told PTI when asked if Tata Group would be putting bid for the Air India stake purchase at the Auto Expo here. The comments came in the wake of reports in a section of media saying that Tatas appear to be moving closer to a decision to bid for Air India in partnership with Singapore Airlines.
The Tata group has already started working on the structure for such buyout, including a merger of AirAsia India, in which they hold 51 per cent in Air India Express, a 100 per cent subsidiary of the government-owned national carrier. The Central government last month issued a preliminary information memorandum (PIM), initiating the process to divest its entire stake in the national air carrier.
