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September 11, 2006 18:44 IST
The proposed merger of state-owned carriers Air-India and Indian is expected to be completed in the current financial year, Civil Aviation Minister Praful Patel said on Monday. The consultant appointed for the merger has been asked to submit its report shortly. In view of the changing dynamics, this merger had to be done, he said. Accenture has been appointed as consultant for the merger process. Patel said the proposed initial public offer of Indian would be done after the merger. Merril Lynch has been entrusted to carry out valuation for Air-India.
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