South China Morning Post
20th Jan 2008
Charlotte So
Shares in Air China (SEHK: 0753, announcements, news) will be suspended from trading tomorrow after its parent company handed rival carrier China Eastern Airlines (SEHK: 0670) a proposal for a wide-ranging alliance, believed to involve an investment of HK$14.9 billion.
The move by China National Aviation Corporation (CNAC) came 10 days after China Eastern shareholders overwhelmingly rejected an offer by Singapore Airlines and Temasek Holdings, worth HK$3.80 per share, to take a 24 per cent stake. >>>> More
