American Airlines to buy shares in China Southern

Shares of China Southern Airlines Co. have risen to a seven-month high after the company confirmed negotiations with American Airlines Group Inc.

American Airlines reportedly expects to purchase $200 million worth of the carrier.

The negotiations are over “a possible major strategic cooperation with American Airlines Inc. involving, among others, proposed issue of shares of the company and other business cooperation," according to an exchange filing.

Read more from Bloomberg.

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