Deals
China Southern Shares Gain After Qatar Airways Buys 5% Stake
- Gulf carrier discloses holding, says wants to purchase more
- Qatar Airways is China Southern’s fourth-biggest shareholder
Photographer: Brendon Thorne/Bloomberg
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China Southern Airlines Co. shares advanced after Qatar Airways purchased 5 percent of the mainland carrier and expressed interest in buying more in a bid to bolster its network in China.
The Gulf carrier now holds a total of 613.36 million shares of China Southern, including 430 million shares listed in Shanghai and 183 million in Hong Kong, according to a filing by the state-owned mainland airline Wednesday.