14th Jan 2008
By PATRICIA JIAYI HO and JEFFREY NG
BEIJING -- Air China Ltd.'s parent said Friday that it plans a "wide-ranging proposal" to link up with China Eastern Airlines Corp., but China Eastern said it can't consider such an offer as it is barred from accepting deals for eight months.
As part of a lockup clause in China Eastern's attempt to sell a stake to Singapore Airlines Ltd. and its parent, Temasek Holdings Pte. Ltd., the company can't accept an offer from rival carriers until Aug. 9.
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