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Virgin’s Branson to buy 20 pct stake in Malaysia’s AirAsia

24 June 2007

British billionaire Richard Branson of Virgin Group is touted to be taking a stake in Malaysia’s new AirAsia long-haul budget airline.

Branson will take a 20 pct stake in Fly Asian Express (FAX), teaming up with Asia’s aviation tycoon Tony Fernandes to run flights from Malaysia to China, Europe and Australia, the newspaper reported, citing sources familiar with the negotiations.

source: Forbes

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