China Eastern says rejection of share sale plan to slow its development
Shanghai (XFN-ASIA) - The rejection of a plan to sell 24 pct
of China Eastern Airlines to Singapore Airlines and its Singapore government
parent Temasek will delay the Chinese carrier's development, China Eastern president
Li Fenghua said.
Li told a special meeting of shareholders that the airline had also failed to adequately communicate its point of view.
He made the remarks at the end of the meeting as shareholders overwhelmingly voted down the plan to sell the shares for 3.80 hkd each.