Beijing to merge 2 more state-owned shipping companies
Add BT as a preferred sourceShanghai
CHINA will combine two of its state-owned shipping giants, the companies said, the sector's second multi-billion-dollar merger in a month as the government pushes consolidation of its nationalised enterprises.
Sinotrans & CSC Holdings Co, the nation's third-largest shipping company, will become a wholly owned subsidiary of China Merchants Group (CMG), a conglomerate with interests in transport, finance and property, according to company statements.
TRENDING NOW
Singapore developer in limbo after Timor-Leste scraps major township project
On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart
MAS to remove mandatory financial advice for complex products for most retail investors
That ‘cheap’ Malaysia condo could cost Singapore buyers far more than they think
