Tata snubs AirAsia India offer; AirAsia Group justifies loan

Tata Sons, which holds a 51% stake in AirAsia India (I5, Bangalore Int'l) and has, according to media reports, considered buying the remaining 49% of the venture from cash-strapped AirAsia Group, has reportedly snubbed an offer for the minority stake from New York-based, India-focused investment firm Interups. Interups also offered to acquire Tata’s stake at the same valuation, and AirAsia Group, which is looking at exiting India, endorsed its offer, India’s Business Standard reported. But Tata Sons’ consent is necessary...