But current regulations require Chinese partners to own a majority stake in retail businesses and the central government must approve all applications.

CNN: MAINLAND MOVES

Mr. Goyal will have a majority stake in the new entity, and continue to indirectly own 51% of Jet Airways, the person familiar with the discussions said.

WSJ: Jet Airways Founder to Take Step for Etihad Deal

Mr. Goyal will have a majority stake in the new entity, and continue to indirectly own 51% of Jet Airways, the person familiar with the deal discussion said.

WSJ: Jet Airways Founder to Take Step for Etihad Deal