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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.