China Eastern gets green light for SIA sale
Sunday, 1 July 2007
BEIJING, June 30 (AFP): China Eastern airlines has been granted preliminary approval to sell a 25 per cent stake to Singapore Airlines (SIA) and Singapore's state-linked investment company, state media said Saturday.
Li Fenghua, president of China's third-biggest airline, told a meeting of shareholders that he had preliminary approval for the deal, the China Daily reported.
The sale "is progressing without problems, there's no opposition from the management side," Li told shareholders.
The Shanghai Security News, citing a source close to the negotiations, that SIA would have 20 per cent and investment company Temasek 5.0 per cent.
Li Fenghua, president of China's third-biggest airline, told a meeting of shareholders that he had preliminary approval for the deal, the China Daily reported.
The sale "is progressing without problems, there's no opposition from the management side," Li told shareholders.
The Shanghai Security News, citing a source close to the negotiations, that SIA would have 20 per cent and investment company Temasek 5.0 per cent.