China Eastern says no further comment on tie-up

A woman guards the door during a China Eastern airline's shareholders meeting in Shanghai January 8, 2008. China Eastern Airlines said on Tuesday it would make no further comment on an approach by Air China before that airline made a detailed, public proposal for a tie-up.

SHANGHAI (Reuters) - China Eastern Airlines (600115.SS) said on Tuesday it would make no further comment on an approach by Air China (601111.SS) before that airline made a detailed, public proposal for a tie-up.

"The market is waiting to see what Air China can bring to the table. There is no point speculating what our reaction will be before the proposal actually comes out," China Eastern spokesman Luo Zhuping told Reuters.

Last week, China Eastern's minority shareholders overwhelmingly rejected its proposal to sell a 24 percent stake to Singapore Airlines (SIAL.SI) and Singapore state investment agency Temasek TEM.UL for US$920 million.

Air China has said it will now make a rival proposal for a tie-up with China Eastern. But immediately after the shareholders meeting, China Eastern said it would not consider accepting Air China as a strategic investor.

On Tuesday, the Beijing News quoted Luo as indicating that China Eastern was softening its stance and was prepared to consider a partnership with Air China.

But Luo told Reuters that his company's position had not changed since the shareholders meeting.

(Reporting by Fang Yan; Editing by Andrew Torchia)