SYDNEY: Virgin Australia on Wednesday said Singapore Airlines had agreed to buy a further 9.9 percent stake in the company for Aus$122.4 million (US$125.6 million) as rivals to Qantas step up their game.
The Singapore flag carrier will purchase 255.5 million shares held by the Virgin Group at 48 cents each, taking its total holding in the Australian domestic airline to 19.9 percent, Virgin said in a notice to the stock exchange.
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