Air China snaps up Cathay shares

• Print
• Email

Updated August 28, 2009 21:19:08

Hong Kong-based airline Cathay Pacific has denied a boost in shares held by mainland airline Air China is a prelude to a takeover.

• Listen:
• Windows Media

Chinese state-owned mining firm CITIC Pacific offloaded a stake of just over 14 per cent this month, saying it no longer wished to hold on to a non-core asset.Air China stepped in and increased its holdings in Cathay Pacific to 29 point 99 per cent, just point zero one per cent under a threshold that would trigger a mandatory takeover offer.
Analysts have speculated in Chinese media that the long term goal of Air China is to a takeover....

Presenter: Bo Hill
Speaker: David Bell, public relations manager Australia for Cathay Pacific Airways

• Anwar Ibrahim to concentrate on politics
• Australia accused of rewarding Burma too soon
• North Korean propaganda builds up Kim Jong-un
• PNG leader won't resign over Indonesia airspace incident
• Rudd praises Indonesian cooperation on asylum seekers
• Anwar Ibrahim cleared of sodomy charges
• Elephant poo paper at hit with Bali tourists
• Musharraf announces return to Pakistan