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Brokers' Take

Published Mon, Oct 20, 2014 · 09:50 PM

Singapore Airlines | Hold

Oct 20 close: S$9.62

Fair value: S$10.05

OCBC Investment Research,

Oct 20

Singapore Airlines Limited (SIA) last Friday announced that it had entered into an irrevocable undertaking with regards to the rights issue of Tiger Airways Holdings Limited (Tigerair). SIA will bring its stake in Tigerair up to about 55 per cent before the rights issue, effectively taking control over Tigerair. SIA is not required to make a general offer and has no intention to do so. Buying Tigerair's shares at a significant premium is probably a strategic move to gain control to align Tigerair's direction with Scoot as well as to parti…

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