Sponsored by China Mining Association (CMA)
About Chinese Contribution
 
   
   

Home >> Companies >> Companies News

Shenhua denies merger with nuclear giant

(Xinhua)
Updated: 2016-07-25 08:59
Counter:

    Chinese coal producer Shenhua Group on Thursday dismissed media reports about reorganization with another state-owned enterprise (SOE).

    "Shenhua is not engaged in merging and reorganization with China General Nuclear Power Corporation and has received no related information from any government agencies," said a post on the company's Sina Weibo account.

    The notice came following reports that the two SOEs are seeking a merger to create a conglomerate with total assets of 204 billion U.S. dollars, but have yet to gain support from authorities.

    Analysts believe the merger is unlikely as the two giants have completely different main business, focusing on coal production and nuclear power, respectively.

    Rumors about SOE mergers are on the rise as the central government tries to encourage mergers and acquisition of torpid SOEs to improve their competitiveness.

 

Comment: Name ValidCode View Comment
     
  Copyright 2001-2010. All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Mining Association (CMA). Without written authorization from CMA, such content shall not be republished or used in any form.
If you have any suggestion or opinion, please contact us: (8610) 66557688 or
english@chinamining.org
Note: Browsers with 1024*768 or higher resolution is suggested for this site. Mail Server