India's SpiceJet ownership set to change hands

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Indian low-cost carrier SpiceJet could get a new majority shareholder, following the purchase of a 38% stake in the carrier by an Indian television network owner, who has also offered to buy an additional 20% stake in the airline.

Kalanithi Maran, who owns the Sun TV network, bought the 38% stake for 7.39 billion rupees ($158.2 million) on 12 June, say reports. The shares were purchased from American equity firm WL Ross and the carrier's original owner Royal Holdings Services, says the airline.

Maran has offered to purchase an additional 20% stake in SpiceJet, say the to media reports.

SpiceJet officials were unavailable for comment.