China Wants Market To Decide China Eastern's Fate

摘要

The Chinese authorities are insisting that the market will determine control of China Eastern Airlines, offering the massively indebted Shanghai carrier little hope of official help as it struggles to avoid the clutches of larger rival Air China. China Eastern's formal rejection last month of the bid has done nothing to deter Air China's parent, China National Aviation Corp., in pursuing the extremely unusual hostile bid. The holding company has placed an advertisement in a Hong Kong newspaper, the South China Morning Post, urging China Eastern to review its decision.