Financial Times
By Jamil Anderlini in Beijing
Published: January 10 2008 02:00 | Last updated: January 10 2008 02:00
Singapore Airlines ruled out raising its offer for a stake in China Eastern Airlines yesterday, clearing the way for what amounts to a hostile takeover attempt from state-controlled rival Air China.
SIA said it would not raise its bid because it believed the price on offer was fair and the maximum justified by CEA's fundamentals. Both SIA and CEA said they still hoped to work together.
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