Taiwan's China Air gives up China Eastern stake plan
2nd Nov 2005, 08:16 GMT
TAIPEI - Taiwan's China Airlines Ltd. has given up on a plan to acquire a $47 million stake in the cargo unit of China Eastern Airlines, saying both sides failed to reach a consensus, a company executive said. China Airlines had sought the stake as part of an attempt to get a foothold in China's massive air freight market, where they are at a disadvantage to other international carriers due to a ban on direct air links with Taiwan, an island China claims as part of its territory.
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