Home / Business / News Tools: Save | Print | E-mail | Most Read | Comment
CNAC invites China Eastern to discuss cooperation
Adjust font size:

After two days of silence, China National Aviation Corp. (Group) (CNAC) has responded to China Eastern Airlines' (CEA) rejection of its offer to buy into the Shanghai-based carrier.

A CNAC source said on Monday the company "has always been sincere about the possible establishment of a strategic partnership with CEA, and hopes the CEA board to study the proposal earnestly and consider it prudently".

Observers believed CEA's rejection could close the door for an alliance between CEA and Air China, the country's number three and number two carriers, respectively, by fleet size.

Responding to the rejection, CNAC said in a statement the reason why the CEA board made such a decision was that the two sides had not yet had the chance to hold wide-ranging and deep discussions on the bid.

CNAC invited CEA to discuss every detail of the proposed equity cooperation so as to finalize the related scheme.

A source with the board of CEA's listing arm said earlier that it "is willing to study any sincere bid that conforms with legal procedures and is better than Singapore Airlines offer".

But in a statement released last Tuesday CEA said, "In the whole process of proposal-making and with the communications method, CNAC has never showed any sincerity and deep and thorough planning for our cooperation".

1   2   3    


Tools: Save | Print | E-mail | Most Read
Comment
Pet Name
Anonymous
China Archives
Related >>
- China Eastern rejects CNAC's alliance proposal
- CNAC offers higher price for Eastern
- Air China to Take CNAC Private, Raising Cathay Stake
Most Viewed >>
- Snow crisis triggers reconstruction boom
- Nation vows full protection of IPR
- China produces 2.52 bln tons of raw coal in 2007
- Three-way economic zone under discussion
- France keen on Chinese investment

May 15-17 Shanghai Women's Forum Asia

Dec. 12-13 Beijing China-US Strategic Economic Dialogue

Nov. 27-28 Beijing China-EU Summit

- Output of Major Industrial Products
- Investment by Various Sectors
- Foreign Direct Investment by Country or Region
- National Price Index
- Value of Major Commodity Import
- Money Supply
- Exchange Rate and Foreign Exchange Reserve
- What does the China-Pakistan Free Trade Agreement cover?
- How to Set up a Foreign Capital Enterprise in China?
- How Does the VAT Works in China?
- How Much RMB or Foreign Currency Can Be Physically Carried Out of or Into China?
- What Is the Electrical Fitting in China?