Press: China Eastern requests overseas stake

15th May 2007

China Eastern Airlines has asked the central government if a foreign strategic investor can hold more than 25 percent of the listed carrier amid its acquisition talks with Singapore Airlines, according to the South China Morning Post.The Shanghai-based carrier said it was in talks with a number of potential strategic investors, including Singapore Airlines, over commercial collaboration.

Under current rules, a single foreign investor can own up to 25% of a mainland airline while multiple investors can hold a combined 49%.

The mainland’s Caijing magazine said China Eastern would sell 2.05 billion H shares to Singapore Airlines, giving it a 25% stake, and 1.27 billion A shares to its parent firm, to keep its stake at 51%.


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