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China Eastern shareholder rejects Singapore offer, bid turns hostile

9-Jan-2008

China Eastern Airlines shareholders have overwhelmingly rejected

the Singapore Airlines/Temasek bid for a 24% stake in the airline. Price was

the decisive factor, with China National Aviation Corp (Group) Ltd (CNACG) promising

at the weekend it would offer at least 32% more than the Singapore offer, were

it to fail. [462 words]

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