China Eastern – SIA pact
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The carrier isn’t confirming the details of any deal except to say it involves the “introduction of strategic investors” by the airline.
The Hong Kong announcement said that one of the potential investors is Singapore Airlines, but any media reports about the move, “in particular relating to any concrete plans, are not confirmed by the Company.”
CEA said no agreement had yet been reached, and once a formal deal had been executed it would “make timely and accurate disclosure”.
Shares in China Eastern Airlines have been suspended from trading since 22 May and will remain suspended until the “publication of a further announcement which is price sensitive in nature”.
Singapore Airlines also issued a statement to the Singapore exchange which also confirmed it was in “an advanced stage of discussion with, inter alia, CEA on a potential transaction”.
The statements follow an unsourced report by Beijing-based publication Caijing Magazine las Mon which claimed a 25% investment by Temasek and SIA in China Eastern was pending.
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