China Eastern expects shareholders to approve SIA deal at year end

China Eastern Airlines is making preparations for the sale of a 24% stake to Singapore Airlines to be approved at a shareholders meeting to be held before the end of the year, Board Secretary Luo Zhuping said. Two-thirds of CEA shareholders must approve the transaction to make it binding. Air China is the biggest holder of CEA's circulating shares and Luo said his company is prepared for any action CA might take. Last week, Air China appeared on the verge of a major stake purchase in CEA in ...