Air China Raises Price for Rival – BBC News

_42698491_chinaplanes300203_afp.jpg From BBC News:

Air China has upped efforts to buy a stake in China Eastern Airlines , saying it will pay more than a rival offer.

shareholders meet on Tuesday to decide whether to accept a $923m (£467m) bid from Singapore Airlines and investment firm Temasek. But said it will pay at least five Hong Kong dollars per share for the 24% stake – well above the HK$3.80 offer currently on the table. It promised a “strategic alliance” with China Eastern if the deal fell through. [Full Text]

[Image: There has been a large growth in air travel in China, from BBC News.]

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