China Eastern: no plan to acquire assets from parent
Written by Administrator
Friday, 27 April 2007
BEIJING, April 27 (InfoChina) -- China Eastern Airlines (NYSE: ZNH, HK: 0670, SH: 600115) is focusing on introduction of overseas strategic investors, and now has no plan to acquire assets from its parent company, Luo Zhuping, director and company secretary told Xinhua-run Shanghai Securities News on April 26.
Luo made the remark in response to market hearsay that China Eastern will issue additional A- and H-shares to acquire assets from its parent company China Eastern Group.
He added that additional shares could be issued for introduction of overseas investors, but it has nothing to do with assets acquisition from the parent.
An insider from the company earlier revealed that China Eastern might sell at most 25 percent equity to Singapore Airlines, and the cooperation is expected to be fixed in the middle of this year.
Cao Jianxiong, general manager of China Eastern earlier also said that the negotiation with Singapore Airlines was positive, but he declined to reveal details.
The company issued a public notice on April 25, claiming that it had no negotiations or realizations that should be disclosed in accordance with relevant Hong Kong listing rules.
On China National Aviation Holding Company’s recent two accumulations of H-shares of China Eastern, with shareholding climbing to 6.02 percent, Luo commented that it is normal market transaction, showing the market confidence of the company’s prospects. (Edited by Chen Dongyi,
)
China Stock News 
