Reuters: Hot Stocks: Singapore Airlines lifts stake in Virgin Australia to 19.9 pct

Reuters: Hot Stocks Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Singapore Airlines lifts stake in Virgin Australia to 19.9 pct Apr 23rd 2013, 23:18 SYDNEY, April 24 | Tue Apr 23, 2013 7:18pm EDT SYDNEY, April 24 (Reuters) - Singapore Airlines Ltd has increased its stake in Virgin Australia Holdings Ltd to 19.9 percent, buying an additional 9.9 percent of Australia's No.2 carrier for A$122.6 million ($125.77 million) from Richard Branson's Virgin Group. Australia's airline industry has been a battleground for global airlines seeking partnerships in recent months, with Qantas Airways Ltd establishing a wide-ranging alliance with Emirates Airlines. The move comes a day after Virgin received competition regulator approval to buy a controlling stake in Tiger Australia from Singapore Airlines' budget associate, Tiger Airways Holdings Ltd. The deal is subject to approval from Australia's Foreign Investment Review Board. Singapore Airlines will pay A$0.48 per share, a 5.5 percent premium to Virgin Australia's last traded price. It bought a 10 percent stake in Virgin Australia in late 2012. ($1 = 0.9748 Australian dollars) (Reporting by Lincoln Feast; Editing by Paul Tait)

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions