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China Eastern Airlines’ six-month effort to resist a takeover bid from Air China might finally have paid off. China Eastern Chairman Li Fenghua restated his airline’s ambitions for a partnership with Singapore Airlines Ltd. in a May 14 interview with Bloomberg.
China Eastern has been at the center of an acquisition tug-of-war for months, fending off a counterbid from China’s top state-owned national carrier, Air China. Air China’s plans for domestic and international aviation dominance initially centered on a merger with China Eastern. But China Eastern preferred a partnership with Singapore’s national carrier, Singapore Air, and its state investment company, Temasek Holdings.
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