SINGAPORE : Troubled China Aviation Oil says it has not received
any offers from other mainland China firms, and that Temasek is the
only party currently in restructuring talks with CAO.
The company also says that Chinese creditor banks have not offered
to write off its debt and recapitalise the company.
CAO has to come up with a rescue plan by January 21.
Monday's comments follows recent reports that a consortium of six
China banks were planning to write off US$120 million of its
debt.
There was also talk that Air China could take a stake in CAO's
parent company. - CNA