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China Eastern Airlines One Step Closer to Sale
Published by AirlineFanatic | Filed under airline stocks, singapore airlines
It’s been a long road for Singapore Airlines in their bid to take a combined 24% stake in China Eastern Airlines, but today they are one step closer to the final sale. A date has been set for China Eastern’s many shareholders to take a vote on the sale to Singapore, on January 8th. The ownership structure of China Eastern seems to be quite complex, with several state and private interests making up the biggest chunk of outstanding shares. The way the vote is organized however (shareholders in Hong Kong and Shanghai will vote simultaneously, and state owned players are not allowed to vote) indicated the sale will proceed once the vote finally takes place.
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November 28th, 2007
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