Singapore Airlines does not intend to increase its 19.9 per cent in Virgin Australia to the takeover threshold, the airline told the Australian Financial Review.
Although the airline may push for representation in the Virgin board, it dismissed claims it would push for greater control.
“At this point, we have no plans to increase our stake beyond 19.9 per cent,” Singapore Airlines’ regional vice-president, Subhas Menon told the the AFR.
A spokesman for ASIC said if the company were to push above 20 per cent they would need to go via one of the exception routes listed in section 611 of the Corporations Act, which includes making a takeover bid.
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