07 Aug '11, 3am

@tonyfernandes to be biggest stakeholder in @MAS ? :O

KUALA LUMPUR - MALAYSIA Airlines (MAS) and AirAsia will swap shares in a surprise deal which will see Tan Sri Tony Fernandes becoming the single biggest shareholder. Khazanah Nasional Bhd, which owns over 17 per cent of MAS, is said to have concluded negotiations with Mr Fernandes to come up with a deal to save the national carrier. Sources said the deal, which was struck last week after negotiations over the past year, became urgent after MAS' poor showing in the last two quarters. Mr Fernandes is set to get 20 per cent of MAS equity under the deal that is to be signed next week, with some sources saying it has already received the Government's approval and could be inked by tomorrow. Industry players expressed surprise at the deal because of past animosity between the management of the two airlines. Those who were aware of the negotiations were also surprised at the spee...

Full article: http://www.straitstimes.com/BreakingNews/SEAsia/Story/STI...

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