http://www.theaustralian.news.com.au...-23349,00.html
AIR China's parent may vote against Singapore Airline's acquisition of rival China Eastern after calling the bid unfair and cheap.
China National Aviation Corp has called a $US920 million ($1 billion) investment by Singapore Airlines in rival carrier China Eastern unfair and too cheaply priced, suggesting the aviation firm will vote against the impending acquisition.
In the first formal expression of its views, CNAC - which owns more than 12 per cent of China Eastern - urged China Eastern, Singapore's flag carrier and investment group Temasek Holdings to return to the negotiating table to tweak their acquisition proposal, but did not elaborate.
China National Aviation Corp has called a $US920 million ($1 billion) investment by Singapore Airlines in rival carrier China Eastern unfair and too cheaply priced, suggesting the aviation firm will vote against the impending acquisition.
In the first formal expression of its views, CNAC - which owns more than 12 per cent of China Eastern - urged China Eastern, Singapore's flag carrier and investment group Temasek Holdings to return to the negotiating table to tweak their acquisition proposal, but did not elaborate.
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