HONG KONG: Air China Ltd. raised its stake in Hong Kong carrier Cathay Pacific Airlines Ltd. to 30 percent in a move aimed at boosting the competitiveness and international reach of mainland China's largest airline.
Air China will buy a 12.5 percent Cathay stake for about 6.4 billion Hong Kong dollars ($812 million) from conglomerate CITIC Pacific, increasing its total holdings in Cathay to just under 30 percent, the companies announced late Monday.
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