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Tata confirms interest in Jet Airways deal

Four-hour board meeting ends with no proposal, citing 'preliminary' talks

A Jet Airways employee waits to guide passengers. The troubled Indian airline seeks to reduce costs and right its plunging stock price.

MUMBAI -- Tata Sons ended weeks of speculation on Friday by acknowledging that it is considering an acquisition of beleaguered Indian carrier Jet Airways, but the holding company of the $103 billion Tata Group said it has made no offer to the airline yet.

"We would like to clarify that any such discussions have been preliminary and no proposal has been made," Tata Sons said after a board meeting that lasted over four hours at Tata Group headquarters in Mumbai.

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