BIZCHINA / Biz Media Digest |
Aviation: Partnership talks confirmed(Shanghai Daily)Updated: 2007-05-15 15:17 China Eastern Airlines, the nation's third-biggest carrier, yesterday said it has been approached and is negotiating alliances with a number of potential strategic investors, including Singapore Airlines. China Eastern's Hong Kong-listed shares yesterday surged 8.85 percent to HK$3.32 (43 US cents) while its Shanghai-listed shares slid 2.95 percent to 7.89 yuan. It released a statement yesterday in response to earlier media reports that China Eastern has been in final talks with Singapore Airlines over a stake sale of up to 25 percent. China Eastern Air Holding Co, China Eastern's controlling shareholder, has recently consulted authorities of the state-owned Assets Supervision and Administration Commission under the State Council in respect of the feasibility of introducing strategic investors, the airline said. It said the details of the final decision as to the means and timing for the introduction of strategic investors and the principal terms and conditions of the possible transactions are yet to be determined. No agreement has been reached so far. (For more biz stories, please visit Industry Updates) |
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