The pace of Indian consolidation appears to be ramping up as Kingfisher Airlines took a significant step toward acquiring Bangalore rival Air Deccan with the purchase of a 26% stake for INR5.46 billion ($133.6 million). The transfer, announced in filings with the Bombay Stock Exchange, includes a promise from Kingfisher parent United Breweries Holdings to make an open offer for a further 20% of Air Deccan, the country's first low-fare carrier. Yesterday's deal will make Kingfisher "probably. ...

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