China Eastern Airlines said Wednesday that it is "willing to study any sincere bid" from China National Aviation Holding Co (CNAHC) to increase its 12.07% stake in the carrier. The statement marked a departure from China Eastern’s earlier stance of only considering a Singapore Airlines’ (SIA) proposal for a 24% stake in the company, the South China Morning Post reported, citing state media. China Eastern said that it had not yet received a formal proposal from CNAHC, which is the parent company of Air China, and said it was still in favor of an SIA proposal. Previously, CNAHC had promised to raise a counter-offer of no less than HK$5 (US$0.64) per share by January 22.
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