77% of China Eastern shareholders have voted against Singapore Airline's proposed HK$7 billion bid for a 24% stake in it. Disappointed by the results of the vote, China Eastern chairman Li Fenghua has vowed not to ally with Air China:"We will never consider Air China as a strategic investor. The most important thing is not the price. The most important thing is to improve China Eastern Airlines' brand and management." "There's not much difference between......

Singapore’s Temasek Holdings and Singapore Airline’s joint bid for a 24 percent stake of China Eastern Airline finally received its blessing from Beijing last week. The deal valued CEA at HK$3.80 per share. China Eastern’s Hong Kong listing after a three month halt resumed trading earlier today and promptly doubled from HK$ 3.73 to HK$ 7.50 before paring back to settle around HK$ 6.90 in the afternoon. Today’s surge in gave the two new investors......