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Singapore Airlines Halt Share Trading  
User currently offlineGbb777 From Singapore, joined Aug 2006, 10 posts, RR: 0
Posted (7 years 2 months 1 week 6 days 20 hours ago) and read 4211 times:

SINGAPORE: Singapore Airlines (SIA) and China Eastern Airlines suspended trading of their shares on Tuesday amid reports of a possible investment deal.

SIA did not state a reason for their suspension of trade at the Singapore Exchange but said it would make an announcement after the stock market closes at 5:00 pm (0900 GMT).

The stock last traded at 18.40 Singapore dollars (12.1 US).

Trading of China Eastern Airlines was also halted at the Hong Kong stock exchange, where the stock last traded at 3.73 Hong Kong dollars (48 US cents).

China Eastern said it requested the trading halt pending the release of a "price-sensitive" announcement.

SIA chief executive Chew Choon Seng said on May 11 the Singapore carrier was in discussions with China Eastern, but that the talks "have not progressed to a stage where we have any announcements to make".

The Shanghai Securities News reported from Beijing on Monday that talks were going on smoothly.

"So far, the talks with Singapore Airlines are smooth ... but the conclusion of an agreement will depend on the support of the government," the newspaper quoted China Eastern chairman Li Fenghua as saying.

Li said China Eastern plans to sell up to a 25 percent stake to a foreign strategic investor.

*****************
So big news to come? Wait till 5pm SIN

6 replies: All unread, jump to last
 
User currently offlineDrgmobile From Canada, joined Aug 2006, 611 posts, RR: 0
Reply 1, posted (7 years 2 months 1 week 6 days 11 hours ago) and read 3714 times:

Ten minutes ago China Eastern announced it was halting share trading as well. Something is afoot.

Trading of H Shares of China Eastern Airlines Corporation Limited in Hong Kong Is Suspended

China Eastern Airlines Corporation Limited, announces that, following a request made by the Company to the Stock Exchange of Hong Kong Limited, trading in its H shares has been suspended with effect from 9:47 a.m. on May 22, 2007 pending the release of an announcement of the Company, the nature of which is price-sensitive.

Trading in the Company's ADSs on the New York Stock Exchange will also be suspended with effect from 9:30 a.m. New York time on May 22, 2007.


User currently offlineCoal From United States of America, joined Aug 2006, 2009 posts, RR: 9
Reply 2, posted (7 years 2 months 1 week 6 days 10 hours ago) and read 3637 times:

Well it seems as though SQ is indeed buying a stake in MU.

Bloomberg and Reuters not quite confirming the news, although a post on SQTalk seems to confirm that SQ will take up to 25% of MU, which is the maximum allowed by the Chinese gov't.

Excellent news in my opinion, especially because I'm KrisFlyer Gold and I will be moving to Shanghai in '08.

Cheers
Coal



Nxt Flts: VA SYD-CBR-SYD | VA SYD-OOL-SYD | JQ SYD-MEL | VA MEL-CBR-SYD | DL SYD-LAX-ATL-MIA | B6 FLL-DCA-BOS | DL BOS-L
User currently offline9V-SPJ From United States of America, joined Dec 2000, 749 posts, RR: 0
Reply 3, posted (7 years 2 months 1 week 5 days 1 hour ago) and read 3242 times:

The BBC has confirmed that SQ has confirmed that it is looking to buy a stake in MU which could be worth $1 billion US. I

http://news.bbc.co.uk/2/hi/business/6682701.stm

If this deal does go through, could this mean the entry of MU into the Star Alliance?

9V-SPJ


User currently offlineCoal From United States of America, joined Aug 2006, 2009 posts, RR: 9
Reply 4, posted (7 years 2 months 1 week 5 days ago) and read 3147 times:

Quoting 9V-SPJ (Reply 3):
worth $1 billion

Well, either way they can only get up to 25% of MU under Chinese law. But great news. OW can forget about getting MU now, so it's just a matter of when, not if, they become part of Star Alliance.

Cheers
Coal



Nxt Flts: VA SYD-CBR-SYD | VA SYD-OOL-SYD | JQ SYD-MEL | VA MEL-CBR-SYD | DL SYD-LAX-ATL-MIA | B6 FLL-DCA-BOS | DL BOS-L
User currently offlineRyanair!!! From Australia, joined Mar 2002, 4752 posts, RR: 26
Reply 5, posted (7 years 2 months 1 week 4 days 22 hours ago) and read 3043 times:

I hope with SQ's intervention, MU can up their game properly. For an airline with such high ambitions, just flipping through their in-flight magazine can yield some very embarrassing contents.


Welcome to my starry one world alliance, a team in the sky!
User currently offlineSingaporeBoy From Singapore, joined May 2005, 141 posts, RR: 0
Reply 6, posted (7 years 2 months 1 week 4 days 18 hours ago) and read 2869 times:

Hey Ryanair...still waiting for my book.

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