Air India takeover: Reset of Indian biz, says Mahindra
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Hyderabad Indian Billionaire Anand Mahindra has applauded the Centre's announcement of Tata Sons winning the bid for Air India in a recent tweet. He named it as reset of the Indian business environment and also mentioned that government is picking up faith in the private sector.
"I may be accused of overstating the importance of this event but I think this divestment amounts to a 'reset' of the Indian business environment. Yes, the Govt. is dispensing of a cash drain; But it's also renewing faith -after decades- In the potential efficiency of the pvt. sector," Mahindra tweeted.
Tata Sons emerged as winning bidder for Air India and it concluded attempts to privatise a debt-laden airline. The government plans to complete the transaction by the end of 2021.
About the history, Tata Sons had originally launched Air India Limited with a namesake branding in 1932, now bid for Rs 18,000 crore as an enterprise value for Air India.
