SIA holds firm on China Eastern deal
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Singapore Airlines (SIA) has said it will not budge on its offer to buy a stake in China Eastern Airlines, ChannelNews Asia has reported.
“We will not raise the price of HK$3.8 (US$0.48) agreed in the framework agreement last year,” the Xinhua news agency reported Stephen Forshaw, SIA Vice President for Public Affairs, as saying.
SIA’s initial proposal was voted down by shareholders in January after China National Aviation Corp. indicated it may make a higher offer. Forshaw told Xinhua that the two carriers hoped to resume talks after the Olympics.
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