Air Transport World

News Corp.

News Corp. suspended negotiations with Singapore Airlines over the sale of its half-share in Ansett to SIA in an attempt to break the impasse reached with Air New Zealand and its major shareholder, Brierley Investments. ANZ, which owns the other 50% of Ansett, threatened to exercise a pre-emptive right it holds over the News Corp. stake to block SIA's purchase.

Brierley Investments, which controls ANZ, would like SIA to buy part of its shareholding in ANZ instead of in Ansett. SIA, however, is still keen to invest directly in Ansett--an outcome supported by Ansett Executive Chairman Rod Eddington and the Australian government. …

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