Source: CCTV.com

01-08-2008 09:26

Air China's parent company wants to increase its share of domestic rival China Eastern, in which it already holds a significant stake.

Air China is offering at least five Hong Kong dollars per share if
China Eastern's share holders reject a proposed 3.8 Hong Kong
dollar per share offer, from Singapore airlines and its parent Temasek.

The company is offering at least five Hong Kong dollars per share if China Eastern's share holders reject a proposed 3.8 Hong Kong dollar per share offer, from Singapore airlines and its parent Temasek.

China National Aviation owns 12 percent of China Eastern's Hong Kong listed shares. The company says it could not accept the proposed SIA investment unless the price was raised and planned to submit a bid within two weeks.

If shareholders accept, Air China will take the place of Singapore airline to become the strategic partner of China Eastern.

 

Editor:Xiong Qu