SINGAPORE: Singapore Airlines (SIA) and China Eastern Airlines suspended trading of their shares on Tuesday amid reports of a possible investment deal.
SIA did not state a reason for their suspension of trade at the Singapore Exchange but said it would make an announcement after the stock market closes at 5:00 pm (0900 GMT).
The stock last traded at 18.40 Singapore dollars (12.1 US).
Trading of China Eastern Airlines was also halted at the Hong Kong stock exchange, where the stock last traded at 3.73 Hong Kong dollars (48 US cents).
China Eastern said it requested the trading halt pending the release of a "price-sensitive" announcement.
SIA chief executive Chew Choon Seng said on May 11 the Singapore carrier was in discussions with China Eastern, but that the talks "have not progressed to a stage where we have any announcements to make".
The Shanghai Securities News reported from Beijing on Monday that talks were going on smoothly.
"So far, the talks with Singapore Airlines are smooth ... but the conclusion of an agreement will depend on the support of the government," the newspaper quoted China Eastern chairman Li Fenghua as saying.
Li said China Eastern plans to sell up to a 25 percent stake to a foreign strategic investor.
lets see what happens later?
