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China Cosco Holdings, China Shipping Container Lines in merger talks
TRADING has been stopped on the Hong Kong stock exchange as state-owned China Cosco Holdings, China Shipping Container Lines (CSCL) and China Shipping Development opened merger talks.
Any consolidation process would be complex thanks to the web of stock listings of the two groups and their earnings disparity. China Shippin's offshoots have been outperforming its bigger rival since the shipping market slumped.
CSCL and China Shipping Development applied for a trading halt after the market closed on Friday as China Ocean Shipping Group (Cosco) and China Shipping Group began plans for a merger after being ordered to do so by Beijing, South China Morning Post reported.
Any consolidation process would be complex thanks to the web of stock listings of the two groups and their earnings disparity. China Shippin's offshoots have been outperforming its bigger rival since the shipping market slumped.
CSCL and China Shipping Development applied for a trading halt after the market closed on Friday as China Ocean Shipping Group (Cosco) and China Shipping Group began plans for a merger after being ordered to do so by Beijing, South China Morning Post reported.
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