9-Mar-2010 10:24 AM

Air China and Shenzhen Government to acquire a combined 65% of Shenzhen Airlines

Air China and the Shenzhen Government will reportedly divide up a 65% stake in Shenzhen Airlines previously held by Li Zeyuan, who is currently being investigated for unspecified "economic crimes" (www.163.com, 08-Mar-2010). Air China, which currently has a 25% stake in the airline, is seeking to acquire approximately a 25% stake held by Mr Li, while the remaining 40% will reportedly be acquired by the Shenzhen Government, meaning Air China will become the majority shareholder in the airline.